UBS is pushing back hard against tougher banking rules proposed by the government.
The Federal Council wants systemically important banks to fully cover their foreign subsidiaries - a move UBS calls “extreme” and out of step with global standards.
The bank warns it could need tens of billions in extra capital and says the plan risks harming the wider economy.
Business group Economiesuisse shares those concerns, arguing higher capital requirements could make credit more expensive.
Previously, UBS has threatened to move its base to the United States if the government brought in tougher capital rules.
Parliament is set to debate the proposal later this year.
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