UBS Group Stock Is Sliding Today: What's Going On?

UBS Group AG UBS shares are trading lower Monday amid the Federal Reserve's approval for the bank to acquire the U.S. subsidiaries of Credit Suisse Group CS.

What Happened: Late Friday, the Fed's Board of Governors approved UBS's acquisition of Credit Suisse subsidiaries. UBS committed to give the Fed an implementation plan for the business combination that will be updated quarterly, according to a statement from the Fed Board. 

The plan is expected to address UBS's obligations to comply with more stringent standards, which specifically includes enhanced liquidity standards.

"In making this determination, the Board relied on all the information ... that UBS provided to the Board ... Any change in the facts presented by the record or the representations made by UBS could result in a different conclusion and should be reported to Board staff immediately," the Fed Board said.

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UBS Price Action: UBS shares were down 3.61% at $21.12 at the time of writing, according to Benzinga Pro.

Photo: Klarinette71 from Pixabay.