UBS to participate in Bank of America Merrill Lynch financials conference
John Cryan, Chief Financial Officer of UBS, will present today at the Bank of America Merrill Lynch financials conference in London. His presentation will include updates on the effects of the Basel III framework. Applying Basel III standards, UBS's June 30, 2010 risk-weighted assets are estimated to be in the range of CHF 400 billion, compared to CHF 205 billion under Basel II. Mitigating steps that UBS plans to take should significantly reduce its risk-weighted assets as calculated under Basel III. Subject to market and business developments and foreign currency fluctuations, UBS believes that its Basel III risk-weighted assets will likely be closer to CHF 300 billion prior to the initial implementation of the new standards. Based on previously announced profitability targets, UBS expects to satisfy the required core capital ratios through retained earnings by 2013.
The full presentation can be found at www.ubs.com/presentations