UBS’s liquidity coverage ratio fell eight percentage points in the second quarter of the year, as the bank reallocated some of its high-quality liquid assets from the corporate centre unit to its business divisions.

The Swiss lender’s LCR – calculated by dividing its stock of HQLA by estimated net cash outflows in a period of stress – dropped to 145% on average in Q2 2019, down from 153% in Q1.