Credit Suisse Files For Insurance Claims on Greensill-linked Funds
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,...
Credit Suisse Reports $275 Million Q1 Loss; To Raise $1.9bn After Archegos and Greensill Impact
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”....
Credit Suisse Reveals Massive $4.7 Billion Loss from Archegos Fiasco
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...
