UBS must revise crisis preparations: FINMA calls for action.

The Swiss financial supervisory authority FINMA has requested UBS to review and enhance its contingency plans. This measure aims to expand the bank's options for action in crisis situations, thereby minimizing the risk of insolvency. FINMA is responding to the lessons learned from the Credit Suisse crisis and is increasingly focusing on preventive measures to strengthen crisis preparedness and resolution planning for systemically important banks. The review of UBS's contingency plans has been temporarily suspended while the institution reassesses its strategies. FINMA emphasized the need for additional options to ensure stability in potential crisis situations. This demand underscores the importance of careful precautionary measures in an ever-changing global financial environment.