Credit Suisse reassures investors over bank’s financial strength
Senior Credit Suisse executives spent the weekend reassuring large clients, counterparties and investors about the Swiss bank’s liquidity and capital position in response to concerns raised about its financial strength.
Executives hit the phones after spreads on the bank’s credit default swaps, which offer protection against a company defaulting, rose sharply on Friday, indicating investor worries over the bank’s financial health.
“The teams are actively engaging with our top clients and counterparties this weekend,” said a Credit Suisse executive involved in the discussions. “We are also getting incoming calls from our top investors with messages of support.”
This story originally appeared on: Financial Times - Author:Owen Walker
