It’s quite concerning to see Credit Suisse CDS spreads widening so drastically. This indicates that the bank may be facing more risks than it was previously, and investors are increasingly worried about its financial health. I think this is something worth monitoring closely in order to assess potential investment opportunities or risks within the banking sector as a whole.
Credit Suisse Estimates $1.6B Loss After $88.3B Withdrawn in Bank Run
Credit Suisse Group (NYSE:CS) projected a $1.6 billion loss for Q4 as customers withdrew billions worth of investments and deposits, citing concerns over the bank’s health. The bank said customers pulled out roughly $88.3 billion between Sept. 30 and Nov. 11, which translates to 6% of its total assets under management.