Credit Suisse: At least 4 global banks have put restrictions on new dealings w/ CS group


  • At least four global banks have put restrictions on new dealings with Credit Suisse group AG
  • At least two banks are taking measures that involve cutting unsecured exposure to Credit Suisse in new dealings
  • Deutsche Bank/value it assigns to Credit Suisse securities as collateral on loans to wealth management clients
  • Societe Generale has not changed existing positions with Credit Suisse, but it is not increasing them either
  • HSBC private banking business scrutinizing loans linked to Credit Suisse securities, has not made a final decision
  • Credit Suisse did not have immediate comment; it has previously said its capital and liquidity basis is very strong

When the going gets tough, it is normal operating procedure to evaluate exposure to troubled institutions. Hence the need for a central bank

Read this Term to be the lender of last resort ahead. No one wants to be caught holding the bag.

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