**The Swiss parliamentary process for stricter capital rules on UBS, known as Lex UBS, advanced significantly in September 2026 when the upper house (Council of States) approved a 90% CET1 backing requirement for the bank’s foreign subsidiaries by a 29-16 vote, rejecting both the government’s 100% proposal and a softer 50/50 AT1 compromise favored by UBS.** This followed the 2023 Credit Suisse collapse and reflects cross-party consensus on bolstering financial stability for the systemically important bank, whose balance sheet exceeds Switzerland’s economy. The bill now moves to the lower house (National Council), with deliberations expected from November 2026 onward and reconciliation between chambers likely extending into 2027. Finance Minister Karin Keller-Sutter and regulators have backed higher equity buffers, while UBS estimates an additional $16–18 billion CET1 requirement and has warned of competitiveness impacts. The June 30, 2027 resolution deadline aligns with the expected timeline for final passage, supporting the 78.5% implied probability of approval, though outcomes could shift via lower-house amendments, chamber reconciliation, or a potential referendum.