Credit Suisse stock

2022 - 10 - 3

Credit Suisse stock falls to fresh record low as investor concerns ... (CNN)

Shares of Credit Suisse plunged to a fresh record low on Monday as jittery investors trained their attention on the Swiss bank.

Yet the memo appears to have fueled concerns about the bank instead of tamping them down. “That said, I trust that you are not confusing our day-to-day stock price performance with the strong capital base and liquidity position of the bank.” The But it’s facing renewed scrutiny following a memo to employees from CEO Ulrich Körner sent Friday that was shared with CNN Business. The Financial Times Körner sought to reassure colleagues about the bank’s financial health before he unveils a restructuring plan at the end of this month.

Stock Market Today: Dow Gains Over 600 Points; Tesla Falls; Oil ... (The Wall Street Journal)

Credit Suisse's riskiest bonds sank Monday, and its shares hit fresh record lows, on concerns about the Swiss bank's financial health. The cost of insuring ...

The memo appeared to spark fresh concerns, prompting online discussions over the weekend.\n\nIn talking points updated on Sunday for its bankers and relationship managers, Credit Suisse said it has close to a $100 billion capital buffer and continues to expect a 13% to 14% ratio for its highest quality equity capital through the rest of the year.\n\nThe stressed market prices indicate Credit Suisse could struggle to raise new shares to pay for a planned restructuring and that its funding costs could rise sharply.\n\nIt now costs 272 euros a year to insure 10,000 euros of senior debt issued by the bank against default, as measured by 5-year credit-default swaps, said Joost Beaumont, senior fixed income strategist for ABN AMRO Bank. A $1.55 billion additional tier-1 bond that can be redeemed from 2025 was recently bid at about 65.6 cents on the dollar, Tradeweb data showed.\n\nCredit Suisse said in July it would refashion its investment bank and exit some other businesses to become a leaner, less risky institution, following financial disasters that included a $5.1 billion hit last year from client Archegos Capital Management. Credit Suisse’s riskiest bonds sank Monday, and its shares hit fresh record lows, on concerns about the Swiss bank’s financial health.\n\nThe cost of insuring Credit Suisse debt against default, as measured by credit-default swaps, also continued to climb.\n\nThe stock was recently 6.2% lower at 3.73 Swiss francs, paring some losses, after earlier trading as much as 11.6% lower, according to FactSet.

Credit Suisse Shares Tank As Capital Concerns Spark Reminders ... (Forbes)

Shares of Credit Suisse plunged to an all-time low Monday as investors traded on concerns about the Swiss banking giant's financial health and management's ...

The bank [installed](https://www.forbes.com/sites/roberthart/2022/07/27/credit-suisse-replaces-ceo-after-17-billion-loss/?sh=40f4303d237b) Körner as its top executive in July after the bank missed on earnings, and Credit Suisse has been marred in recent by billions of dollars in losses from financial penalties and the [collapse](https://www.forbes.com/sites/isabeltogoh/2021/11/04/credit-suisse-burned-by-archegos-and-greensill-scandals-shifts-focus-to-wealth-management-in-overhaul/?sh=31b627db2488) of asset manager Archegos and financial services firm Greensill. [Credit Suisse is fending off concerns about its financial health, fanning fears of another Lehman Brothers moment that could roil the global financial system. [according](https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/the-world-s-100-largest-banks-2022-69651785) to S&P Global Market Intelligence. Though concerns are not as stark about Deutsche Bank as with Credit Suisse, shares of the German bank are down 42% year-to date. Deutsche Bank’s credit risk Here's what's happening, and what it means.](https://www.businessinsider.com/credit-suisse-lehman-brothers-stock-price-cds-banks-financial-system-2022-10) (Insider) [Credit Suisse reassures investors over its financial strength](https://www.ft.com/content/c62bea1f-2929-4473-838d-665dc6c45f83) (Financial Times) [surged in 2016](https://www.cnbc.com/2016/09/28/deutsche-bank-crisis-explained.html) over concerns about the bank’s liquidity. [deleted](https://www.afr.com/markets/equity-markets/abc-reporter-deletes-tweet-claiming-investment-bank-on-the-brink-20221003-p5bmvy) the tweet Monday, but not before it went viral and was linked to Credit Suisse and Germany’s Deutsche Bank, while [several](https://twitter.com/GrahamStephan/status/1576601663477059585?s=20&t=oba1BnqOnoTtUKAWchUN9w) [other](https://twitter.com/Debit_Suisse/status/1576570369481543681?s=20&t=oba1BnqOnoTtUKAWchUN9w) [tweets](https://twitter.com/TheCryptoLark/status/1576660051728560128?s=20&t=oba1BnqOnoTtUKAWchUN9w) playing up comparisons between Lehman and the European banks racked up tens of thousands of likes on Twitter. Credit Suisse has $100 billion available to cover any losses, [according](https://www.nytimes.com/2022/10/03/business/dealbook/credit-suisse-share-fall-turnaround.html) to talking points sent to executives viewed by the New York Times, and the memo said, “Speculating that we have a liquidity issue simply would be completely false.” [how much](https://www.credit-suisse.com/about-us/en/investor-relations/corporate-and-share-information/corporate-information/key-metrics-tables.html) assets Credit Suisse managed as of the end of the second quarter of 2022, compared to Lehman Brothers’ over $600 billion in assets when it filed for bankruptcy September 15, 2008, plunging the stock market. [reported](https://www.ft.com/content/c62bea1f-2929-4473-838d-665dc6c45f83) Monday the bank’s top executives called clients over the weekend to calm doubts about the bank’s financial position. Credit Suisse shares fell to an all-time low of $3.70 Monday in New York and fell 5% in Zurich as investor confidence in the Swiss banking giant continues to fall as its capital position is being questioned after months of falling profits.

Sinking Credit Suisse Stock Is A 'Buy For The Brave,' Says Citi (Financial Advisor Magazine)

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A closely-followed gauge of credit risk for the bank is at record high, even after its Chief Executive Officer Ulrich Koerner had sought to calm employees over the weekend. There remain reasons to be cautious, according to Citi analysts. The word of reassurance came ahead of Credit Suisse’s strategic plan -- on possible asset and business sales -- to be unveiled at the end of October.

Credit Suisse stock