Credit Suisse

FT

Credit Suisse reassures investors over bank’s financial strength

Executives contacted clients after credit default swaps suggested growing worries over group’s health

https://12ft.io/proxy?q=https%3A%2F%2Fwww.ft.com%2Fcontent%2Fc62bea1f-2929-4473-838d-665dc6c45f83

4Chan

Credit Suisse is about to blow. Bank runs begin soon. Remember that message by The Vatican demanding all money be taken out of private banks by the 30th? That’s because the vatican kept their money in CS. They knew ahead of time about the collapse because this has all been orchestrated by the elites and the Vatican got a heads up of exactly when it would happen, and when to take their money out by. Then knew when this “unforeseen” bomb was going to go off, almost to the day, months ahead of time. That’s not because they’re lucky, it’s because the next stage of the elites plans are coming to fruition soon.


Src: /pol/ - happening - Politically Incorrect - 4chan

I hope the Vatican got all it’s money back in time… oh and are the troops on German streets yet?

It hasn’t changed. The Game that is. Only 1 play.

You.

image

$600 Billion: What Lehman Brothers held in assets when they crashed and took the economy with them.

$2800 Billion: What Credit Suisse and Deutsche Bank control in AUM. 4.6x more.

Credit Suisse is at a ‘Critical Moment’ now, says the CEO.

What lies in store for the world?:thread: Image

The stocks of both banks have suffered an absolute rout so far. In the past year alone, their stocks have fallen by more than 40%!
Deutche Bank :de: : $12.30 → $7.40
Credit Suisse :switzerland: : $9.83 → $3.92

However, most of the recent interest arose due to a story from ABC Australia, which reported ominously that “a major international investment bank is on the brink”.

Although the reports didn’t specify any names, the rumor is that they are referring to Credit Suisse.

Credit Suisse’s credit default swaps (CDS) costs have hit the highest level since 2008!

A CDS is essentially an insurance purchased against a potential default.

https://pbs.twimg.com/media/FeE25L6WQAE3umA.png

Even without any underlying issue, such a rumor can quickly become a self-fulfilling prophecy as panicking clients start withdrawing their money.

Unfortunately, their CEO’s recent statements haven’t calmed investors’ nerves.

At the moment, not much is known about the reason behind Deutsche bank’s underperformance.

Currently, they are trading at ~0.3x book value and concerns had been raised earlier about their exposure to the derivatives market.

Both Credit Suisse and Deutsche are the biggest banks in Switzerland and Germany respectively and have a history of more than 150 years.

They are also considered to be G-SIB’s (Global Systemically Important Banks) making a bailout likely in case of any serious issues.

This is a developing story with a lot of rumors swirling around. We will have some clarity once the market opens on Monday.

If the situation changes substantially, I will cover it in more detail in m

Graham Stephan (@GrahamStephan): "$600 Billion: What Lehman Brothers held in assets when they crashed and took the economy with them. $2800 Billion: What Credit Suisse and Deutsche Bank control in AUM. 4.6x more. Credit Suisse is at a 'Critical Moment' now, says the CEO. What lies in store for the world?🧵"|nitter

The cost of buying insurance against Credit Suisse defaulting on its debt soared to a record high on Monday, as the Swiss bank failed to calm market concerns around the strength of its balance sheet.

Someone is spooked.

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https://www.bloomberg.com/news/articles/2022-10-11/credit-suisse-facing-8-billion-capital-shortfall-goldman-says

Credit Suisse May Face $8 Billion Capital Shortfall in 2024

  • Equity raise by Swiss bank would be ‘prudent,’ analysts say

  • Jefferies sees need to build $9 billion capital in next years

9k jobs cut, $4b emergency capital raise.

Down 20% today. Zerohedge reports a bank run. DB next?

By the way Dutch Central could also go broke. Guess what"s more contagious than Covid?

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Pull it.

ZH not buying it