Only 35 million has been provisioned by Credit Suisse
In Switzerland, Finma cannot impose fines. It plans to publish the report on the bank’s failures in the Archegos case. According to the Financial Times, the investigation results and the amount of fines should be published by the end of July, a deadline that could be extended due to the recent takeover of Credit Suisse by UBS.
Credit Suisse has only provisioned 35 million francs for possible fines related to the Archegos case, as reminded by 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.
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