Swiss banks, Credit Suisse and UBS saw shares drop by 4% in trading this morning. Shares in UBS were down 2.7%, while Credit Suisse fell 2.8%, lagging a 0.1% weaker European banking sector index SX7P.
Shares dropped after media reported Swiss politicians are considering tightening capital requirements for Swiss banks.
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In a newspaper interview on Sunday, Swiss Finance Minister Eveline Widmer-Schlumpf said that Swiss banks should not be subject to higher leverage ratio requirements of 6-10%, stricter than the ratio set out by Basel III rules.
