Fannie Mae, Freddie Mac shares tumble after conservatorship comments
Investing.com -- UBS Group is starting a share buyback program of up to $2 billion, fulfilling its commitment to return capital to shareholders despite Switzerland’s recent proposal for stricter capital requirements.
The Swiss banking giant announced Monday that the buyback will begin Tuesday, with plans to repurchase up to $2 billion of shares in the second half of this year. This new program follows the completion of a previous $2 billion buyback initiative that launched in April last year, which included $1 billion in repurchases during the first half of this year.
UBS recently reaffirmed its capital-return goals for the year, even after Swiss authorities announced proposals for new, tougher capital rules for the bank. These proposed regulations aim to prevent another financial crisis similar to the Credit Suisse collapse.
The bank stated it will reveal its plans for 2026 capital returns when it reports its fourth-quarter results in early 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.