rose 31% to about $8.3 billion from client activity in surging markets. Its loss for the quarter was 252 million Swiss francs, or about $275 million.
Credit Suisse has been the hardest hit of the lenders to Archegos, a U.S. family investment firm that took huge bets on a few stocks with borrowed money. Other banks lost money as well when Archegos couldn’t meet margin calls, but they were able to exit positions more quickly.came just weeks after Credit Suisse warned losses could be material from the collapse of another bank client, Greensill Capital, with which Credit Suisse ran a $10 billion set of investment funds.
“We have not indemnified the investors in these funds. These are third-party investors,” David Mathers, Credit Suisse’s chief financial officer said Thursday.
Roots of all evil: BarackObama & JoeBiden DoddFranckAct deregulating FamilyOffices. At least 6000 Billion $ are completely unregulated: No SEC. No Investor protection.
'please pay for our mistakes' - credit suisse
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