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ZURICH (Reuters) - The head of Switzerland s financial regulator FINMA questioned Credit Suisse Group AG over risks in its dealings with now-insolvent finance firm Greensill Capital months before the bank was forced to close $10 billion of funds linked to Greensill, Swiss newspaper SonntagsZeitung reported on Sunday.
Alongside formal discussions on a technical level between the bank and FINMA, the watchdog s head Mark Branson personally discussed the risks with outgoing Credit Suisse Chairman Urs Rohner and Chief Executive Thomas Gottstein during a meeting on an unspecified date, the newspaper reported, citing information it had obtained.
FINMA and Credit Suisse declined to comment to Reuters.
The head of Switzerland's financial regulator FINMA questioned Credit Suisse over risks in its dealings with now-insolvent finance firm Greensill Capital "months" before the bank was forced to close $10 billion of funds liked to Greensill, Swiss newspaper SonntagsZeitung.
The country’s financial czars yielded to IMF’s demand to carry out tight fiscal adjustment in months ahead that will surely leave a bitter taste of tax increases.