Latest News:  
Beijing   Sunny/Overcast    5 / -2   City Forecast

People's Daily Online>>World

UBS issues notes worth 2 bln USD to meet new capital requirements


08:59, February 23, 2012

GENEVA, Feb. 22 (Xinhua) -- The Swiss banking giant UBS on Wednesday issued 2 billion U.S. dollars' worth of subordinated loss-absorbing non-dilutive notes to meet the new capital requirements to be introduced by the Swiss government.

The notes, which will qualify as tier 2 capital under Basel III standards and have a maturity of 10 years with an optional call at year Five, will pay a non-deferrable coupon of 7.25 percent.

UBS Group Chief Financial Officer Tom Naratil said, "The deal marks the beginning of an issuance program as we build our loss-absorbing capital base to meet FINMA (the Swiss Financial Market Supervisory Authority) and the Basel Committee requirements for systemically important banks well in advance of the regulatory deadlines."

In order to address the "too big to fail" issue, the Swiss Federal Government took a decision last Wednesday to bring an amendment to the Banking Act into force on March 1, 2012.

The amendment, which was passed by parliament in September 2011, demands systemically important banks to build up more capital, meet more stringent liquidity requirements and ensure better risk diversification by 2018.


Leave your comment0 comments

  1. Name


Selections for you

  1. Xi lays wreath at mausoleum of Mustafa Kemal Ataturk

  2. Heavy snowfall hits southern Kazakhstan

  3. "The Wind of Asia " wedding fashion show held in Tokyo

  4. Melbourne hosts International Pancake Day celebration

Most Popular


  1. Finding out truth crucial to resolving Syrian crisis
  2. Deposit reserve ratio cut does not mean policy shift
  3. Is West genuinely trying to 'save' Syria?
  4. China's Linsanity
  5. Ancient technology education program launched
  6. Banks' reserve ratio cut aims to spur growth
  7. China, India should treat competition rationally
  8. China takes responsible attitude towards Syrian
  9. Admire Jeremy Lin for his skills, not the way he looks
  10. VP Xi's U.S. tour hailed as future-oriented landmark

What's happening in China

Festival surge not just about fun

  1. Fog disrupts trains and flights, strands travelers
  2. Provinces to end 'iron bowl' jobs
  3. Apple moves to defend rights on iconic iPad
  4. Bear bile maker opens farm to reporters
  5. Beijing plans campus police system

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai