UBS's Weber: No New Business in Russia, Winding Down Trades

The video discusses the impact of the 2008 crisis and the current situation with Russian collateral on Swiss banks. UBS has been reducing its exposure to Russia since January, aligning with global sanctions. The bank does not disclose Russian money by citizenship but by region. The future of Russian banking is uncertain, with long-term consequences expected even if a ceasefire occurs. UBS is focused on winding down operations and reducing exposures in compliance with regulatory obligations.

What actions have Swiss banks taken in response to geopolitical tensions with Russia?

• Increased investments in Russian markets

• Reduced exposure to Russia and wound down trades

• Opened new branches in Russia

• Ignored global sanctions

How does UBS categorize its financial disclosures?

• By national citizenship

• By individual clients

• By regions

• By transaction type

What is the status of Russian citizens living in the EU and Switzerland regarding sanctions?

• They are fully sanctioned

• They are required to close their accounts

• They are exempt from certain sanctions

• They have no reporting obligations

What is the predicted future of international banks' business operations in Russia?

• Expansion of onshore business

• Immediate withdrawal from the Russian market

• Increased collaboration with Russian banks

• No future for onshore business

What is the process for winding down a financial institution with regulatory obligations in Russia?

• Transfer of operations to another country

• Gradual process with regulatory compliance

• Ignoring regulatory obligations

• Immediate closure of all operations