Credit Suisse shares slid by as much as 10%, reflecting market concerns ahead of a restructuring plan due to come with third-quarter results at the end of October
It has said it was considering measures to strengthen its flagship wealth management franchise, scale back its investment bank into a "capital-light, advisory-led" business, and evaluate strategic options for the Securitized Products business.
Given the bank has indicated a near-term intention to keep its CET1 capital ratio at 13-14%, the second-quarter end ratio is well within that range and the liquidity coverage ratio is well above requirements, the analysts added. While Credit Suisse's CDS spreads have widened, this should be seen in the context of widening credit spreads across the sector, which was expected in an environment of rising interest rates with ongoing macroeconomic uncertainty, the analysts said.
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