UBS Expects Gradual Rule Change on Swiss Deferred Tax Assets

Newly-proposed rules on how to value deferred tax assets will likely be introduced gradually, UBS Group AGChief Financial Officer Todd Tuckner said, in a step that would delay their impact on the bank’s capital requirements.

“It is reasonable to assume that there will be a phase-in period,” Tuckner said Wednesday at an investor conference hosted by Goldman Sachs, referring to capital deductions for DTAs and software.

While that decision is ultimately up to the Swiss government, Tuckner said similar changes to Switzerland’s bank capital rules in the past have involved a gradual introduction, giving him reason to believe that ...