Tagged: credit suisse

UK Prudential Regulation Authority Assesses Record Fine on Credit Suisse for Archegos Exposure

The Prudential Regulation Authority (PRA), part of the Bank of England, has assessed a “record fine” on Credit Suisse due to its exposure to Archegos Capital Management. Archegos collapsed spectacularly in 2022 leaving losses of billions of dollars. The failure has led to both criminal… Read More

Perspective: Is the Banking Crisis Back?

The fall of Silicon Valley Bank (SVB), the emergency merger of Credit Suisse with UBS, and most recently, the seizure and sale of First Republic Bank quickly dissipated much of the trust that had been slowly returning to the banking sector. The question remains: if… Read More

FINMA Comments on Write Down to Zero of Credit Suisse AT1 Bonds

As part of the deal to reanimate Credit Suisse, Swiss regulators cut a deal with UBS that included writing down the AT1 bonds to zero. Holders are not pleased. In light of the “numerous inquiries,” Swiss regulator FINMA has issued a statement on wiping out… Read More

A Potentially Deeper Crisis: Portfolio Manager Warns on Credit Suisse Debacle

Eric Vanraes, Portfolio Manager of the Strategic Bond Opportunities Fund at Eric Sturdza Investments, has distributed a warning on the consequences of the Credit Suisse debacle. In the past week, Credit Suisse was acquired by UBS in a deal supported by the Swiss government. The move… Read More

Litigation Firm Looks to Sue Over Credit Suisse Write Down of Tier 1 Bonds to Zero

As part of the deal to save Credit Suisse from a potential collapse, the agreement that was cut for UBS to take over the bank included a write-down to zero of AT1 (Tier 1) bonds. This means holders will receive nothing for the securities. Following… Read More

UK FCA, US Department of Treasury & Federal Reserve, Issue Statements on UBS Takeover of Credit Suisse

Several government entities have commented on UBS’s recently announced takeover of Credit Suisse. The acquisition was supported by the Swiss government. Credit Suisse faced a crisis of confidence this past week, which could have spilled over into this coming week. Swiss government officials worked to… Read More

UBS to Acquire Troubled Bank Credit Suisse for $3.24 Billion, Supported by Swiss Regulators [u]

The Swiss Financial Market Supervisory Authority FINMA has approved the acquisition of Credit Suisse by competitor UBS. The move was announced earlier today as Credit Suisse had endured a difficult week after rumblings of financial challenges at the bank. On March 15, FINMA issued a… Read More

Credit Suisse Borrows $54 Billion from Swiss National Bank Days After Revealing Material Weakness

Credit Suisse (NYSE:CS) has taken “decisive action” to buttress its balance sheet by tapping into a CHF 50 billion ($54 billion) loan from the Swiss National Bank. (SNB) In recent days, shares of Credit Suisse had been hammered by speculation that the bank was in… Read More

The Swiss Financial Market Supervisory Authority, Swiss National Bank Issue Statement on Market Uncertainty, Credit Suisse

The Swiss Financial Market Supervisory Authority (FINMA) and the Swiss National Bank (SNB) have issued a joint statement on “market uncertainty.” The statement follows the rapid decline in the share value of Credit Suisse (NYSE:CS). The global bank is viewed as the worst home in… Read More

POS Financing Fintech Kafene Welcomes $75M in Debt, Equity

POS financing Fintech Kafene has secured $75 million in additional debt and equity to accelerate company growth. The package included a $50 million credit facility from Credit Suisse, with an additional $10 million provided by Hudson Cove Capital Management, an alternative credit asset manager. An… Read More

Switzerland Stock Exchange SIX Reveals that SIX Digital Exchange Will Issue First Senior Unsecured Digital CHF Bond

The Switzerland Stock Exchange (SIX) recently revealed that the SIX Digital Exchange will be issuing its very first senior unsecured digital CHF bond. SIX’s management confirmed that the bond had been issued for a total volume of CHF 150 million and with its maturity set… Read More

Credit Suisse backed SME Lending Fintech Tradeplus24 Finalizes $25M Raise led by European Family Office

Credit Suisse-backed SME lending Fintech Tradeplus24 has finalized an “oversubscribed” $25 million pre-series B equity raise, which was led by a European family office with an established track record of investing in “high-growth” startups like Klarna, Delivery Hero, and Lyft. Existing investors Credit Suisse, SIX… Read More

AI enhanced Data Extraction Solution Provider Daloopa Secures $20M via Series A from Credit Suisse, Others

Credit Suisse (SWX: CSGN) has reportedly led a $20 million Series A round in Daloopa, a provider of artificial intelligence enhanced data extraction solutions to hedge fund managers, investment banks, and various other financial institutions. Based in New York, Daloopa’s tech has been designed to… Read More

Ex- Goldman Sachs Tech Executive Joanne Hannaford to Serve as Credit Suisse Chief Tech, Operations Officer

Switzerland’s banking company Credit Suisse (SWX: CSGN) has announced that ex- Goldman Sachs (NYSE:GS) technology executive Joanne Hannaford will now serve as its Chief Technology and Operations Officer. Joanne Hannaford will be replacing current COO James Walker who will be taking up a new role in the United… Read More

European IPO Activity Surging During Pandemic

European IPO activity has surged during the pandemic, data from BuyShares.co.uk shows.  In 2020 investors saw many IPOs along with outsized average returns, with total IPO deal value up 64 per cent to more than $300 billion, according to the Wall Street Journal and Dealogic…. Read More

Compliant Blockchain Infrastructure Firm Paxos Completes Same Day Stock Settlement with Credit Suisse and Instinet

Paxos to Apply for Formal Clearing Agency License from the SEC Paxos Trust Company, a compliant blockchain infrastructure provider, has completed a same-day settlement of US-listed equity trades in partnership with Instinet and Credit Suisse. Same-day settlement is colloquially known as T+0 – currently, financial… Read More

Switzerland’s Credit Suisse Is Expecting Business Activity in Wealth Management Sector to Slow Down During Q3 2020

Thomas Gottstein, CEO at Credit Suisse Group AG, a global wealth manager, says that he expects business activity in the wealth management sector to slow down during the third quarter of this year. However, he believes that overall revenue and trading will continue at the… Read More

Switzerland’s Credit Suisse to Introduce App-only Banking Services to Compete with Fintech Challengers

Credit Suisse Plans New “CSX” Digital Banking Offering Switzerland’s Credit Suisse, a global wealth manager, has revealed that it will be introducing an app-only banking service, in order to compete with challenger banks. At the end of October 2020, Credit Suisse will launch “CSX” and… Read More

Credit Suisse Adds Google Pay to Mobile Payment Offering

  Credit Suisse announced on Monday it is expanding its mobile payment options for credit card clients by offering Google Pay. Credit Suisse reported that from mid-August 2020, credit card clients in Switzerland will be able to use Google Pay in addition to existing mobile… Read More

Switzerland’s Credit Suisse, a Global Wealth Manager, to “Explore Synergies” with Brazilian Digital Bank modalmais

Switzerland-based Credit Suisse, a multinational wealth manager, investment bank and financial services firm, has made a deal with modalmais, a Brazilian digital bank. According to the terms of the agreement, the Swiss bank will purchase preferred shares that will be “equivalent to up to 35%”… Read More

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