French tax fraud verdict costs UBS $4.1bn of additional op RWAs
Extra capital charges will be split across the first six months of the year
UBS is taking on an additional $4.1 billion in operational risk-weighted assets (RWAs) after the French Court of Appeal found it guilty of unlawful solicitation and aggravated laundering of the proceeds of tax fraud.
The bank booked $2.1 billion of operational RWAs in the first quarter, with another $2 billion to be absorbed in Q2.
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