Swiss Upper House Backs 90% Compromise Plan on UBS Capital

The upper house of Switzerland's parliament backed a fresh compromise in the debate on UBS Group AG's capital requirements. The plan foresees that the bank must back 90% of the value of its foreign units with the highest-quality capital, known as CET1. That's less than the 100% backing the government has pushed for but a departure from a compromise involving heavy use of convertible debt which UBS favored. UBS has said it's against the 90% solution. Bloomberg's Jan-Henrik Foerster reports from Zurich.