2023-06-19 21:33:32
Also read: Credit Suisse takeover by UBS gives birth to a new banking giant
Only 35 million have been provisioned by Credit Suisse
In Switzerland, Finma cannot issue fines. She plans to publish the report on the bank’s failings in the Archegos case. According to Financial Timesthe results of the investigations and the amount of the fines should be published by the end of July, a deadline which might be extended due to the recent takeover of Credit Suisse by UBS.
Credit Suisse has only provisioned 35 million francs for possible fines in connection with the Archegos affair, recalled the Financial Times. Contacted by AWP, Credit Suisse declined to comment. UBS and Finma were not reachable. The Fed and PRA declined to comment to the Financial Times.
Also read: What can Finma do once morest former Credit Suisse executives?
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