Financial Industry News October 3rd News Credit Suisse's share price trading on the Swiss Exchange has widened, hitting a record low in recent days. As of press time, it fell 10.94% to 3.54. David Taylor, a business reporter under the Australian Broadcasting Corporation (ABC), said according to reliable news that a large investment bank is on the verge of bankruptcy. Some overseas self-media speculate that one of them may be Credit Suisse.
According to China Fund News, according to data from Bloomberg, the credit default swap index of Credit Suisse climbed to 250 basis points on Friday, approaching the level when Lehman Brothers went bankrupt in 2008, attracting market attention. CDS default swap price, the higher the default probability.
In response to this, the person in charge of Credit Suisse responded that it refused to comment on the news. According to the latest report from the Financial Times, Credit Suisse executives assured their liquidity and capital status to major clients, counterparties and investors last weekend.
Credit Suisse CEO Corner told employees in a memorandum that the bank has nearly $100 billion of capital buffer and expects its highest quality common equity Tier 1 capital ratio (CET1) to remain at 13%-14% for the rest of the year.
Credit Suisse will announce its latest strategy on October 27, outlining its investment banking business plan, and is currently at a critical moment. Korner said that he should not confuse his stock price performance with capital strength and liquidity.
This article is from the financial industry
