The case
The debate about the future regulation of UBS is highly topical, especially after UBS’ takeover of Credit Suisse. The key question remains, i.e. should UBS be actively downsized or be better capitalised, or are there better ways of making the Swiss banking system more resilient?
Source: Basis finews.ch 18 February 2025; (Peter Kuster | Editor); highly abridged
The commentary
Instead of downsizing UBS, one possible strategy miyht be to create a framework allowing other banks to grow stronger, thus allowing them to become competitors. In the long term, this would lead to a more natural market distribution and reduce dependency on a single large bank, even if seen in isolation from the question of capitalisation.
A diversified financial centre with several strong banks would have clear advantages: more competition, lower costs for companies and households as well as greater stability in the face of global financial crises. The question that arises is what specific measures are needed to achieve this goal, e.g. whether new regulations should be drawn up to promote the growth of other market participants or whether we need targeted incentives for smaller and medium-sized banks.
Further, we ought to find out whether the state (i.e. politicians, regulators) should intervene, or whether the banking ecosystem ought to create its own momentum and try and adapt on their own.