Swiss parliamentary committee proposes that capital requirements for UBS's overseas subsidiaries be split evenly, with 50% covered by common equity Tier 1 (CET1) and 50% by additional Tier 1 (AT1).

Turkish Foreign Minister Hakan Fidan said on Monday Turkey has drawn up a plan to ensure safe grain shipments via the Black Sea and is in contact with both Russia and Ukraine about it. He said Turkey is prepared to push to restore a UN‑mediated deal that previously enabled Ukrainian exports and, if necessary conditions arise, seeks to negotiate a similar agreement. Turkey and the UN helped broker the Black Sea Grain Initiative in July 2022, which facilitated roughly 33 mln tonnes of Ukrainian exports; Russia withdrew from the deal in 2023, citing disruptions to its own grain and fertilizer exports.

Spot gold turned higher intraday, trading above $4,460/oz after an earlier low of $4,432.6/oz.