Switzerland’s largest bank, UBS, may relocate to the United States amid dissatisfaction with the government’s new financial requirements, SİA reports, citing the New York Post.
The bank’s management is reportedly very unhappy with the authorities’ demands, which would require UBS to increase its “safety cushion” to as much as $26 billion. Top executives believe this could undermine UBS’s competitiveness in global markets.
Sources told the publication that UBS leadership recently met with representatives of the US administration. A spokesperson for UBS declined to comment but did not deny meetings with representatives of President Donald Trump regarding the potential relocation of the bank’s headquarters to the United States.
On August 31, the Neue Zürcher Zeitung reported that despite pressures from the Trump administration, Swiss gold producers have no plans to open new factories in the US.
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