One of the world?s biggest banks insists it is in a ?strong? financial position, amid fears of a looming Lehman Brothers moment that could spark a major crisis.
Credit Suisse is scrambling to reassure investors and clients about its liquidity and capital position as rumours swirl that the major global investment bank is on the verge of collapse.
The troubled Swiss lender ? which has seen its share price plunge by 60 per cent over the past year to a near record low, following a string of scandals and losses ? saw a sharp rise in the spreads on its credit default swaps on Friday, sparking fevered online speculation.
Credit default swaps offer protection against a company defaulting on its bonds.
The rapid rise last week of around 15 per cent, to levels last seen in 2009 during the financial crisis, suggested investors were worried about Credit Suisse?s financial health.
More: https://www.news.com.au/finance/business/banking/fears-credit-suisse-is-on-the-brink-of-collapse/news-story/38b7f2d35116cc565820e93a1ce8a6d9
Credit Suisse is scrambling to reassure investors and clients about its liquidity and capital position as rumours swirl that the major global investment bank is on the verge of collapse.
The troubled Swiss lender ? which has seen its share price plunge by 60 per cent over the past year to a near record low, following a string of scandals and losses ? saw a sharp rise in the spreads on its credit default swaps on Friday, sparking fevered online speculation.
Credit default swaps offer protection against a company defaulting on its bonds.
The rapid rise last week of around 15 per cent, to levels last seen in 2009 during the financial crisis, suggested investors were worried about Credit Suisse?s financial health.
More: https://www.news.com.au/finance/business/banking/fears-credit-suisse-is-on-the-brink-of-collapse/news-story/38b7f2d35116cc565820e93a1ce8a6d9
