UBS Group AG - Rejects Proposed Full Deduction Of Foreign Subsidiaries From Common Equity Tier 1 (Cet1)

Jan 12 (Reuters) - UBS Group AG UBSG.S:

• UBS GROUP AG - SUPPORTS THE FEDERAL COUNCIL'S OBJECTIVE OF DRAWING LESSONS FROM CREDIT SUISSE CRISIS

• UBS GROUP AG - FOR UBS, THIS WOULD RESULT IN ADDITIONAL CET1 CAPITAL REQUIREMENTS OF APPROXIMATELY USD 23 BILLION AND THUS VERY HIGH COSTS

• UBS GROUP AG - PROPOSED FULL DEDUCTION OF FOREIGN SUBSIDIARIES FROM COMMON EQUITY TIER 1 (CET1) CAPITAL EXTENDS FAR BEYOND THE ORIGINAL PROPOSAL FROM 2024 AND CLEARLY DOES NOT MEET THESE CRITERIA, WHICH IS WHY WE CLEARLY REJECT THE PROPOSAL