A recently released document shows just how precarious the situation at the troubled bank was in the run-up to its rescue.
A previously undisclosed document from Swiss financial regulator Finma, reveals that Credit Suisse was close to reaching its cash limits days before its forced rescue, as «Antigua News,» first reported.
As of mid-March 2023, Credit Suisse barely reached its internal cash limit at the Swiss National Bank, the report, which was later verified by «Reuters,» said.
Litigious bondholders, left empty-handed after the regulator wrote down $17 billion worth of AT1 Bonds as a condition of the bank's emergency rescue, forced Finma to share the documentation with claimants, the original report said, citing people familiar.
