ZURICH, July 30 (Reuters) - UBS will not act in

advance of Swiss government proposals designed to raise capital

levels to make the bank more resilient, Chief Executive Sergio

Ermotti said on Wednesday.

He said it was also premature to talk about what mitigation

measures the bank would take before knowing the final rules.

"We are not going to front-run any new capital regime,

that's clear," Ermotti told analysts after UBS reported

second-quarter earnings. "We will wait and see exactly what it

is, and then take the appropriate time to phase in whatever will

be phased in."

(Reporting by John Revill and Ariane Luthi

Editing by David Goodman

)