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UBS Group Chief Executive Sergio Ermati says negative interest rates are encouraging risky

lending practices among some banks, potentially posing a threat to the wider financial system.

He spoke earlier today to Bloomberg's Tom Keene and Francine Lafour.

I think in general the European banking system is clearly as a huge over capacity.

The problem is really to create an environment in which we learn from the mistakes of the past

is that not every bank should try to copy the other but

rather every bank has to find his own ways to leave through the next phase.

And as UBS group, CEO Ermati, as heard earlier on Bloomberg Television, U.S. stock index

futures meanwhile are lower this morning after a surgeon's shares sent the S&B 500 to an almost two month

...