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Investing.com -- UBS Group AG has made advancements in its crisis preparation plans, including potential wind-down scenarios, but additional work remains necessary, Switzerland’s financial regulator reported Thursday.
In a bank resolution report, Finma stated that Switzerland’s only globally significant lender has established workable plans for restructuring and resolution. However, the regulator noted that more flexibility is required to stabilize acute emergency situations.
"The emergency planning needs to be better integrated in the resolution plan in the future and thus cannot currently be regarded as executable," Finma said in a statement.
The financial watchdog added that legislative changes will be necessary to create the additional room for maneuver needed to handle crisis situations effectively.
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