Switzerland Sticks to Bank Capital Schedule in Blow to UBS (2)

Switzerland said it will keep to its schedule for implementing global bank capital rules despite continued wrangling over the standards in the US, potentially putting its largest lender UBS Group AG at a competitive disadvantage.

The country’s Federal Council said Wednesday it has taken note of the recent developments and “despite delays in some countries, it sees no reason to deviate from its existing timetable.” The standards will apply from Jan. 1, it said in a statement.

Bloomberg reported last week that Swiss banks including UBS were pressing the government to postpone part of the rules that relate to banks’ ...