credit suisse

European economy, European politics 23rd March 2023

European banks: systemic risk dissipates after Credit Suisse buyout by UBS

Bankinter : The chairman of the ECB’s Supervisory Board, Andrea Enria, highlights the soundness of the sector and considers that the shareholder remuneration policy (average pay-out ~50.0% of NAB) is reasonable. Banking rose +4.79% on Tuesday. Positive highlights: UBS/Switzerland (CHF 19.42; +12.2%); Commerzbank/Germany (CHF 10.02; +7.4%), Sabadell/Spain (CHF 1.07; +7.5%), Unicredit/Italy (CHF 17.42; +6.9%), ING (CHF 11.16; +5.9%) and BBVA/Spain (CHF 6.57; +5.4%). Analyst’s view: Sector fundamentals are good (liquidity,…

European economy 17th March 2023

Credit Suisse: “too big to fail”

After yesterday’s session saw German two, five and thirty-year yields suffer their biggest falls in history, and the ten-year took its biggest cut since 1990; after the Eurozone’s interest rate peak was recalculated at 3.10%; and after the Euro’s biggest intraday fall since the 2020 pandemic; well, finally, the ECB remained unperturbed and raised interest rates by 50 bps, bringing the deposit facility to 3%. In the meantime, however, the…

Companies, Spanish economy 16th March 2023

Credit Suisse model not comparable to that of Spanish banks: combined risk would not exceed €1 billion

Renta 4 : Credit Suisse has asked the Swiss National Bank to lend it 50 billion Swiss francs (€50.6 billion) of liquidity to strengthen it pre-emptively. In addition, the bank has announced a senior debt offering. This aid comes after the bank announced a review of its 2021 and 2022 accounts after finding flaws in risk measurement, and its main shareholder with a 9.8% stake said it will not inject…

European economy 16th March 2023

Credit Suisse, Sabadell… how mean it is to single them out

The banking tsunami generated by the collapse of SVB and Signature Bank – which the Fed wants to close by offering to buy bonds at par, not at market price, from banks in need of liquidity – threatens to turn into a financial crisis. That is the threat today from markets that are out for blood to stop interest rates rising. The big European banks, such as Santander and BBVA,…

Companies 16th March 2015

Credit Suisse: The CHF 10bn Question

Exane BNP Paribas | Following the appointment of Tidjane Thiam as group CEO, there is more scope for a shift in strategy away from the investment bank and towards the wealth management business. Many investors compare this to when UBS announced their restructuring in 2012. In theory this should free up capital, and reduce the volatility of the earnings, enhancing the valuation. This sounds good so far, but we have to look at some numbers.

Markets 26th May 2014

Credit Suisse: When fines are no longer part of the operational costs

WASHINGTON | By Pablo Pardo | Criticism to the fine imposed by the United States department of Justice to Credit Suisse have been almost universal. For instance, The New Yorker’s John Cassidy has remarked that Credit Suisse’s CEO, Brady Dougan, has said that “we have found no instances where clients cannot do business with us,” as a proof of the lack of impact of the $2.5 bn. (EUR1.9 bn.) fine.