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UBS says expects to meet likely TLAC requirements early
July 6, 2015 / 9:36 PM / 2 years ago

UBS says expects to meet likely TLAC requirements early

ZURICH, July 6 (Reuters) - Swiss bank UBS expects to meet anticipated requirements for total loss-absorbing bonds known (TLAC) early.

“UBS currently has over 44 billion Swiss francs ($46.69 billion) in TLAC, supporting a TLAC to risk weighted assets ratio of more than 20 percent,” UBS said in a submission to the U.S. Federal Reserve about how it would shut down its business in the United States during a crisis.

“UBS expects to meet anticipated TLAC requirements ahead of applicable deadlines,” the Zurich-based bank wrote in the document published on Monday.

$1 = 0.9424 Swiss francs Reporting by Joshua Franklin. Editing by Carmel Crimmins

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