FT.com – There’s conservative, and then there’s Swiss and conservative. Having come a cropper in the subprime fallout, UBS (NYSE:UBS) is determined to reassert its credentials for caution. Its Tier 1 capital ratio fell from 12.3 per cent to 10.6 per cent in the third quarter, but new capital raised this week will push it back above 12 per cent – considerably higher than both the minimum requirement under the new Basel II guidelines, and competitors such as Citigroup (NYSE:C) and JP Morgan.