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Swiss watchdog asked Credit Suisse on Greensill risks – SonntagsZeitung

Alongside formal discussions on a technical level between the bank and FINMA, the watchdog’s head Mark Branson personally discussed the risks with outgoing Credit Suisse Chairman Urs Rohner and Chief Executive Thomas Gottstein during a meeting on an unspecified date, the newspaper reported, citing information it had obtained. Sonntags Zeitung on Sunday reported that Archegos founder Bill Hwang could have drawn up to $10 billion worth of credit from Credit Suisse, citing information from an internal source that the bank had assumed nine-fold leverage on the exposure. Credit Suisse and Archegos declined to comment to Reuters on the matter.

Source- Reuters


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