Credit Suisse chances to survive? - Page 3

Axa · #41 18.03.2023, 19:04

For loan collateral purposes, DB assumes CS equity equals to ZERO.

	Quote:
	March 17 (Reuters) - At least four major banks, including Societe Generale SA (SOGN.PA) and Deutsche Bank AG (DBKGn.DE), are restricting new trades involving Credit Suisse Group AG (CSGN.S) or its securities, according to five sources with direct knowledge of the matter, as the Swiss bank struggles to restore confidence. Credit Suisse declined to comment. The cautious stance adopted by Credit Suisse’s rivals, details of which have not been reported before, comes after the Swiss central bank threw a lifeline to the lender after its shares were pummelled in the aftermath of the U.S. banking crisis this week. Deutsche Bank, meanwhile, this week slashed the lending value it assigns to Credit Suisse securities, such as bonds, put up by its wealth management clients as collateral for loans, according to a top executive at a European wealth manager that has business ties with the German lender. Earlier, the bank would value them at about 70% to 80% of face value, the source said.

https://www.reuters.com/business/fin...er-2023-03-17/

ZuriRollt · #42 18.03.2023, 19:16

The takeover of Credit Suisse by UBS is to be sealed this Saturday evening. SNB, Finma, UBS and Credit Suisse sought a quick agreement

Urs Max · #43 18.03.2023, 19:45

The two are already too big, now they want to create an even bigger bank.

What an idiotic approach.

ZuriRollt · #44 18.03.2023, 19:53

	Quote:	Urs Max
	The two are already too big, now they want to create an even bigger bank. What an idiotic approach.

With all the risk, that the UBS has fought to combat over the past years, since its own collapse.

rainer_d · #45 18.03.2023, 21:00

My guess would be the announcement comes over the next three hours.

It’s truly over now.

But goes to show how fragile trust is these days.

Or rather trust in the banking system as a whole.

ZuriRollt · #46 18.03.2023, 21:09

	Quote:	rainer_d
	My guess would be the announcement comes over the next three hours. It’s truly over now. But goes to show how fragile trust is these days. Or rather trust in the banking system as a whole.

At least in Switzerland you can be assured that there is a fixed protocol if ever it happens

marton · #47 18.03.2023, 21:18

From Tagesanzeiger today "Credit Suisse – ein Monument der Schweizer Wirtschaft wankt"

Of course, I read this with my English language viewpoint of the verb.

robBob · #48 18.03.2023, 21:28

	Quote:	Urs Max
	The two are already too big, now they want to create an even bigger bank. What an idiotic approach.

Wonder where they are going to find enough COBOL programmers to merge their databases?

marton · #49 18.03.2023, 23:08

Bandits!

	Quote:
	UBS Group AG (UBSG.S) is seeking government guarantees of about $6 billion for a potential takeover of Credit Suisse Group AG (CSGN.S), a person with knowledge of the discussions told Reuters on Saturday.

Ouchboy · #50 19.03.2023, 00:08

So what happens monday if:
A) reach a deal
B) dont reach a deal

Jim2007 · #51 19.03.2023, 02:39

	Quote:	ZuriRollt
	The takeover of Credit Suisse by UBS is to be sealed this Saturday evening. SNB, Finma, UBS and Credit Suisse sought a quick agreement

There is a very long way to go before that happens… It would be a take over of an international bank which would have financial and competition impacts beyond the Swiss border so the Fed, the ECB, the BOE and various monopolies commissions are all going to have a say. That is a hell of a lot of people to get on the same page by Monday!

I was there for the Volksbank take over, LTCM crises, the UBS reverse takeover and the Lehman melt down, happy to be retired and out of the game this time around.

malo · #52 19.03.2023, 06:38

I would love to read about public opinion on giving these two banks total of $61 billions. Is there a forum or a blog discussing ordinary man point of view? I assume gov and big business are always open for saving the equity holders.

markalex · #53 19.03.2023, 08:56

	Quote:	Urs Max
	The two are already too big, now they want to create an even bigger bank. What an idiotic approach.

Is there no monopolies commission here?

catandmouse · #54 19.03.2023, 10:13

	Quote:	markalex
	Is there no monopolies commission here?

Yes, but it's in the hand of the monopolies

AbFab · #55 19.03.2023, 10:42

So what would the new giant bank be called?

UBSuise, CreditBS (more appropriate), TBTEF (Too Big To Ever Fail) etc etc…

marton · #56 19.03.2023, 11:07

	Quote:	abfab
	so what would the new giant bank be called? Ubsuise, creditbs (more appropriate), tbtef (too big to ever fail) etc etc…

snb2 :d

robBob · #57 19.03.2023, 11:21

	Quote:	Urs Max
	The two are already too big, now they want to create an even bigger bank. What an idiotic approach.

Today Switzerland! Tomorrow the world! The SwissAir wet dream lives.

Jim2007 · #58 19.03.2023, 11:41

	Quote:	malo
	I would love to read about public opinion on giving these two banks total of $61 billions. Is there a forum or a blog discussing ordinary man point of view? I assume gov and big business are always open for saving the equity holders.

In a country that encourages investing over property ownership, why would you assume that the taxpayers and the equity holders are two different groups??? And in addition to private savings the majority of second pillar and a significant part of third pillar savings is also held in equities. The stock market fallout impacts pretty much every household in Switzerland in terms of savings and pensions. Have you checked your pension recently? Is it underfunded? Is there talk of reducing the benefits and so on?

me.anon · #59 19.03.2023, 12:22

This tale also shows that the strategy of spreading cash between different banks, to qualify for the protection limit of CHF100'000 per bank, may not give the desired results. It would be painful to see all those carefully spread deposits ending up at the same bank, especially if that recipient bank is itself not sound.

robBob · #60 19.03.2023, 12:56

	Quote:	me.anon
	This tale also shows that the strategy of spreading cash between different banks, to qualify for the protection limit of CHF100'000 per bank, may not give the desired results. It would be painful to see all those carefully spread deposits ending up at the same bank, especially if that recipient bank is itself not sound.

By most Canton banks the protection is unlimited. Thus the ZKB, for example, is probably the safest bank worlwide.