UBS's Ermotti Says Swiss Capital Plan Risks Overreaction

The transcript discusses the challenges faced by Swiss financial institutions due to stringent capital requirements and regulatory frameworks. It highlights the complexity of discussions around foreign subsidiaries and the impact on Switzerland's position as a leading financial centre. The speaker emphasizes the strategic importance of maintaining operations in Switzerland and argues against relocating to other financial hubs like New York. The focus is on presenting the benefits of Swissness and advocating for a balanced regulatory approach.

What is one potential consequence of increased regulatory requirements for banks?

• Lower interest rates for clients

• More competitive financial centers

• Higher costs for banking services

• Increased foreign investments

Why does the speaker believe that extreme measures against foreign subsidiaries are unnecessary?

• They enhance Switzerland's financial reputation

• They encourage more foreign investments

• They undervalue foreign participation on balance sheets

• They simplify regulatory compliance

What is the speaker's stance on moving the company's listing from Zurich to New York?

• It should be considered immediately

• It will improve regulatory conditions

• It is a necessary step for growth

• It is not a topic to consider at this stage

How does the speaker view the role of 'Swissness' in their business strategy?

• As a hindrance to international growth

• As a differentiating element

• As irrelevant to their operations

• As a temporary advantage

What is the speaker's commitment regarding their operations in Switzerland?

• To continue operating successfully from Switzerland

• To reduce their presence in the Swiss market

• To merge with a foreign company

• To relocate to a more favorable regulatory environment