Credit Suisse is at the centre of market turmoil amid rumours the bank could be on the brink of collapse. | News24_Business
Credit Suisse is at the centre of market turmoil amid rumours the bank could be on the brink of collapse.
In the memo sent on Friday, Körner cautioned against conflating the “day-to-day stock price” with financial health and insisted the upcoming restructuring would ensure the bank’s “long-term, sustainable future”.On social media, a number of investors with large followings, including Lark Davis and Graham Stephan, posted comparisons to Lehman Brothers that quickly went viral.
“They have had CEO turnover. Further, the CEO’s internal letter to employees did not reassure – if you have to explain to employees what is going on, it is a bad sign.” First of all, despite Credit Suisse’s woes, the lender has huge amounts of capital to withstand any losses. “I do not think this is a Lehman Brothers. Their tier one ratio is 13.5%,” Harvey said, referring to the portion of capital made up of core assets, which regulators consider a key marker of financial strength.Banks are more tightly regulated than in 2008 and have more capital on hand to manage risk.
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