UBS Group Chairman Colm Kelleher on Wednesday mentioned that the Swiss financial institution is “not too large to fail,” as he criticized Swiss authorities proposals to strengthen its capital necessities.

Kelleher was delivering a speech through the UBS Annual Common Assembly — the primary such gathering held for the reason that financial institution accomplished the takeover of its former rival Credit score Suisse final summer time.

“UBS isn’t too large to fail. UBS is among the greatest capitalized banks in Europe, with a sustainable enterprise mannequin and a corresponding low-risk steadiness sheet,” Kelleher mentioned.

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