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(Bloomberg) — A key panel of the Swiss parliament said UBS Group AG should be able to meet half of its new capital requirements by using convertible bonds known as AT1s, handing an interim win to the Zurich-based bank.
The upper house’s Economic Affairs and Taxation Committee recommended on Monday that UBS can use AT1 bonds to help meet the approximately $20 billion in extra capital requirements being proposed by the government, as long as the instruments are reformed.
