UBS shrugs off VAR exceptions
UBS has made strong progress in taming its market risk exposure, revealing a clean value-at-risk backtesting record for two quarters in a row. As a result it is now spared onerous capital multipliers imposed by Swiss regulator Finma to punish slack modelling practices.
The Swiss bank has crunched down its market risk-weighted assets from a peak of Sfr15.49 billion ($16.2 billion) at year-end 2016 to Sfr12.3 billion as of Q4 2017. Contributing to this reduction has been the sloughing off of
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