by Amruth Sundarkumar | Sep 8, 2021 | Financial News
Credit Suisse has filed its first insurance claim following the collapse of its $10bn supply chain finance funds related to Greensill in March. The bank reported that some $7bn, or 70%, have now been recovered, up from $6.1bn in July. After the last payment in August,...
by bondevalue | Apr 23, 2021 | Financial Institutions, Investment Grade Bonds
Credit Suisse reported its Q1 earnings with net losses of CHF 252mn ($275mn). CS said the losses reflected a “significant charge with respect to the US-based hedge fund matter in 1Q21, offsetting positive performance across wealth management and investment banking”....
by bondevalue | Apr 7, 2021 | Financial Institution Bonds
Credit Suisse (CS) revealed a massive $4.7bn writedown tied to the Archegos Capital fiasco. With this, the bank also let go of at least seven senior executives, traders and risk managers. This would see the bank report an estimated first quarter loss of ~$960mn after...
by bondevalue | Apr 6, 2021 | Financial Institution Bonds
After the recent Archegos Capital related collapse impacting Credit Suisse’s financials, ET reports that CS has unloaded about $2.3bn of stock tied to Archegos yesterday to salvage some of its expected losses. The sale comprised about 34mn shares in ViacomCBS, 14mn...
by bondevalue | Mar 31, 2021 | Financial Institution Bonds
Credit Suisse (CS) saw its CDS spreads widen post the fallout from Archegos Capital. Bloomberg reports that CS is now deemed the riskiest in the eyes of derivatives traders among the big banks. Its 5Y credit default swaps (CDS) spreads widened 20bp since Friday to...
