Credit Suisse is one of 30 systemically important banks. Its stock was slammed on Monday, as credit-default swaps widened.
Credit Suisse was trending for all the wrong reasons this weekend, as social media was in a frenzy debating whether one of the 30 global systemically important banks would collapse altogether.
The bank did open its doors on Monday. The bad news was, its shares CSGN CS fell 11% at the open to a new record low, and have dropped 59% this year. And the headaches at Credit Suisse aren’t limited to just these two issues. On Monday, it postponed a planned capital increase for a real estate fund, citing volatility in the market for Swiss real estate funds.
Observers aren’t totally convinced the bank does have enough capital. Analysts at RBC Capital Market, for instance, say the bank may need to raise another 4 billion to 6 billion francs both to fund whatever restructuring’s happening as well as provide buffers against capital headwinds.
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