The shares of Swiss bank Credit Suisse (CSGN.CH) are losing more than 8.5% at the start of today's session, despite assurances from the CEO that the bank continues to maintain a strong capital and liquidity base. Recall that last week CDS (credit default swaps), or derivatives that protect against the possible collapse of the underlying entity, reached their highest levels since 2009. A new strategic plan is scheduled to be announced on October 27.
Credit Suisse CDS Spread. Source: Bloomberg
Start investing today or test a free demoOpen real account Try demo Download mobile app Download mobile app
The bank has been under supply pressure for some time. Source: Bloomberg
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.