UBS receives national banking licence for the US
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Quick Summary
Swiss bank UBS will be able to expand its services for clients in the US. It has received the national banking licence it has been seeking for some time from the relevant US authorities. +Get the most important news from Switzerland in your inbox For UBS, this is an important milestone that underlines its long-term commitment to the US market, the bank announced in a statement on social media on Friday. The licence will strengthen the banking platform in the US and improve the bank's services for its clients and financial advisors. The Swiss bank had been seeking to obtain a national banking licence since last autumn. UBS's new status with its national banking licence will allow the bank to offer its US clients more "everyday banking services" in future, such as demand deposits and additional credit products, according to US officials. In addition to the clientele of the "super-rich", experts believe that the bank could also better serve the broader segment of wealthy clients. + ...