01:16 PM EST, 11/04/2025 (MT Newswires) -- UBS Group ( UBS ) is gaining political support from Swiss lawmakers to ease parts of proposed capital rules, multiple media outlets reported Tuesday.

The lower house's Economy and Taxation Committee voted to send a letter to the government warning that overly strict rules could undermine Switzerland's standing as a competitive financial center, Bloomberg reported.

The government plan could require UBS to hold an additional $26 billion in core capital, Reuter reported.

UBS didn't immediately respond to a request for comment from MT Newswires.

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