UBS: QIS3 results in increased capital, is not "fair"

UBS, the Switzerland-based financial institution, says its overall capital will increase under the Basel Accord revisions, as currently outlined in the third quantitative impact study (QIS3). In addition, other institutions have had the same results, the bank says.

UBS made these pronouncements in its response paper to QIS3, conducted by the Basel Committee for Banking Supervision in the fourth quarter of 2002. The response papers were posted recently on the Bank for International Settlements website.

Publication of the actual results from the QIS3 have been delayed by the Basel Committee from March to May, when they will be released alongside the third consultative paper. Speculation has been rampant in banking circles as to the content of the QIS3

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