Credit Suisse has a bit of bad news vis-à-vis the whole losing $5.5 billion on the collapse of Tiger cub family office Archegos Capital Management, specifically that Swiss Financial Market Supervisory Authority has noticed.
“FINMA imposed a temporary add-on of CHF 5.8 billion (USD 6.1 billion) to the Group’s credit risk RWA (risk-weighted assets) in relation to its exposure in the US-based hedge fund matter, which was included in movements in risk levels,” it said in a first-quarter regulatory filing.
Federal prosecutors in New York have requested information about Archegos Capital Management from banks across Wall Street, according to people familiar with the matter.
Banks that lent to Archegos, including Credit Suisse Group AG, UBS Group AG, Goldman Sachs Group Inc. and Morgan Stanley, have been contacted for information, the people said.
And in the U.K., the Prudential Regulation Authority has been asking firms including Credit Suisse, Nomura and UBS Group AG to hand over information related to their lending to Archegos, people familiar with the matter have said.
Credit Suisse details Swiss watchdog action after Archegos blow up [Reuters]
Federal Prosecutors Have Asked Banks for Information About Archegos Meltdown [WSJ]
Justice Department Opens Probe Into Archegos Blowup [Bloomberg]
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