Swiss financial regulator FINMA said on Friday that it has set expectations for future communication from Credit Suisse after investigating statements made by the chairman on outflows
Swiss financial regulator FINMA said on Friday it does not see sufficient grounds for proceedings against Credit Suisse, but has set expectations for future communication from the Swiss bank after investigating statements made by the chairman on outflows.
In a statement released after market close in Zurich, FINMA confirmed an earlier report by Reuters and said it had looked in to “possible violations of financial market law” at the Swiss bank. In early December Chairman Axel Lehmann made comments about outflows from the lender having stabilized. It later turned out clients were still withdrawing funds.
When the bank reported its annual results, Credit Suisse said clients withdrew 110.5 billion Swiss francs from Switzerland’s second-largest bank, in the last three months of 2022. In response to a question on the distribution of withdrawals in the period Chief Executive Ulrich Koerner told analysts on the day earnings were reported that more than 85 per cent of the outflows in the last quarter happened in October and November, according to a transcript of the call.On Friday the bank’s shares fell to a new record low as a global rout in banking stocks added to investor concern about the bank.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Credit Suisse delays publication of annual report after last-minute U.S. SEC callThe unusual intervention by the U.S regulator raises questions about Credit Suisse’s earlier financial statements
Lire la suite »
Credit card debt up 15 per cent in Q4, younger Canadians feel hardest pinch: EquifaxCanadian credit card debt soared in the last three months of 2022 amid rising interest rates and stubbornly high inflation with younger Canadians in particular relying on credit to make ends meet.
Lire la suite »
Credit card debt up 15% in Q4 with younger Canadians feeling pinch: Equifax - National | Globalnews.caEquifax says Canadians' credit card debt increased by more than 15 per cent from the same period a year earlier and totalled more than $100 billion for the first time.
Lire la suite »
Credit card debt up more than 15% in fourth-quarter, younger Canadians feel hardest pinchEquifax says overall consumer debt rose in the fourth quarter of 2022, with total debt at $2.37-trillion, up more than 6% from the same period in 2021
Lire la suite »
In The News for March 9 : Just how much do Canadians owe in credit card debt?In The News is a roundup of stories from The Canadian Press designed to kickstart your day. Here is what’s on the radar of our editors for the morning of March…
Lire la suite »
Canadian credit card debt up 15% in Q4, younger people feel hardest pinch: EquifaxCanadian credit card debt soared in the last three months of 2022 with younger Canadians in particular relying on credit to make ends meet.
Lire la suite »