UBS says expects to meet likely TLAC requirements early

By Joshua Franklin

ZURICH (Reuters) - Swiss bank UBS <UBSG.VX> expects to meet anticipated requirements for total loss-absorbing bonds known (TLAC) early.

"UBS currently has over 44 billion Swiss francs ($46.69 billion) in TLAC, supporting a TLAC to risk weighted assets ratio of more than 20 percent," UBS said in a submission to the U.S. Federal Reserve about how it would shut down its business in the United States during a crisis.

"UBS expects to meet anticipated TLAC requirements ahead of applicable deadlines," the Zurich-based bank wrote in the document published on Monday.

(Reporting by Joshua Franklin. Editing by Carmel Crimmins)