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Tuesday, 14 February 2012
UBS Issues “Capital Bonds”
UBS is set to issue $ 1 billion in bonds that will count as tier two subordinated notes under the terms of the Basel 3 regime.
The notes will be written down is UBS’s tier one capital ratio falls below 5 per cent.
The measure is designed to push UBS towards the 19 per cent capital ratios demanded by Swiss regulators by 2019.
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