The Swiss government is set to soften part of a banking regulation package that could force UBS to add as much as $24 billion in capital, three people familiar with the matter said.

I've decided to move this blog from WordPress to Substack to avoid paying a fortune while maintaining the same quality content you're used to. The blog will now be hosted at (note: "capitalissue" without the 's'). What this means for you: In the coming days, I'll set up a redirect so that will automatically take you to the new Substack site.

Can we really build better mousetraps?

Discussions came as Colm Kelleher tries to pressure Swiss government to back down over proposed capital rules

Gilts sell off after government ditches plan to increase income tax rates

YouTube video by Business Scholarship Podcast

It’s the best publication for investors — but the latest issue makes spooky reading

Britain doesn’t just have a politician problem; it has an electorate problem

Tom Hayes, the former star UBS Group AG trader who became the face of the Libor rigging scandal, sued his former employer accusing it of handing him over on a “silver platter” to global prosecutors in...

Money can’t buy you love and right now no one knows that better than UBS Group AG. Since the Swiss bank helpfully rescued its cockroach-riddled rival Credit Suisse in a state-brokered emergency takeov...

How the RBNZ and Oliver Wyman use an old trick to make us believe that our banks are overcapitalised Some weeks ago, the Reserve Bank of New Zealand (RBNZ) published its consultation on bank capital with submissions closing on 3 October 2025. That's by the end of this week! To support its proposals, the Bank commissioned Oliver Wyman to benchmark New Zealand banks’ capital ratios against international peers.

Capital Issues extends a warm welcome to Dr Anna Breman, who has been officially appointed as Governor of the Reserve Bank of New Zealand. Dr Breman arrives in Wellington from Sweden, where she most recently served as First Deputy Governor of Sveriges Riksbank, Sweden’s central bank. Dr Breman is well regarded for her expertise in economics and for her leadership in monetary policy and financial stability.

Paris political class goes round in circles while public finances fall behind those of other countries

The graphs below, once seen, cannot be unseen. There's nothing special about them—they simply clarify something I didn't realize until recently, when readers prompted me to elaborate on my earlier blog post. That earlier post focused on the intense attention politicians, press, and pundits give to bank capital requirements. Requirements matter, of course, but they're only one part of the story.