Home Editor's Picks Credit Suisse executives reassure investors after CDS spike, Financial Times reports

Credit Suisse executives reassure investors after CDS spike, Financial Times reports

by

Credit Suisse executives reassure investors after CDS spike -FT By Reuters

Breaking News

‘;

Stock Markets 7 minutes ago (Oct 02, 2022 02:50PM ET)

(C) Reuters. FILE PHOTO: Switzerland’s national flag flies above the logo of Swiss bank Credit Suisse at its headquarters in Zurich, Switzerland April 18, 2021. REUTERS/Arnd Wiegmann

(Reuters) – Credit Suisse executives spent the weekend reassuring large clients, counterparties and investors about its liquidity and capital position, the Financial Times reported on Sunday.

A spokesman for Credit Suisse declined to comment on the report when contacted by Reuters.

Executives made the calls after spreads Credit Suisse credit default swaps (CDS), which offer protection against a company defaulting, rose sharply on Friday in an indication of investor concerns, the newspaper said.

Credit Suisse five-year credit default swaps (CDS) jumped 6 basis point to close to 247 bps on Friday, the highest level in at least 10 years, S&P Global (NYSE:SPGI) Market Intelligence data showed.

Credit Suisse CDS began the year at 57 bps.

The Financial Times said that a Credit Suisse executive denied reports that the bank had formally approached investors about potentially raising more capital, insisting that it was trying to avoid such a move with its share price at record lows and higher borrowing costs due to rating downgrades.

The Swiss bank’s chief executive Ulrich Koerner told staff in a memo seen by Reuters on Friday that it has solid capital and liquidity.

The bank also said last month it was pressing ahead with a review that includes potential divestitures and asset sales.

Credit Suisse executives reassure investors after CDS spike -FT

Tesla’s logistical challenges overshadow record deliveriesBy Reuters – Oct 02, 2022

By Hyunjoo Jin and Mrinmay Dey -Tesla Inc on Sunday announced lower-than-expected electric vehicle deliveries in the third quarter, as logistical challenges overshadowed its…

Tesla Delivered 343,830 EV Units in Q3, Misses EstimatesBy Investing.com – Oct 02, 2022

Tesla (TSLA) delivered 343,830 electric vehicles (EVs) in Q3, the company announced today. During the year-ago quarter, Tesla delivered 254,695 vehicles.
Q3 deliveries were lower…

Israel stocks lower at close of trade; TA 35 down 2.12%By Investing.com – Oct 02, 2022

Investing.com – Israel stocks were lower after the close on Sunday, as losses in the Banking, Financials and Real Estate sectors led shares lower.
At the close in Tel Aviv, the TA…

Our Apps



Terms And Conditions
Privacy Policy
Risk Warning

(C) 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Related News