Credit Suisse Executives May Not Be On The Hook For Greensill Losses, But West Virginia's Governor Is
Jim Justice may really need that $150,000 statehouse salary.
Source: dealbreaker.com
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Credit Suisse's RenTech Fund Holds Back Some Client Cash
(Bloomberg) -- Credit Suisse Group AG is temporarily barring clients from withdrawing all their cash from a fund that invests with Renaissance Technologies after the strategy tanked and investors rushed to exit. The bank has invoked a so-called hold back clause, after assets in the CS Renaissance Alternative Access Fund slumped to about $250 million this month from approximately $700 million at the start of 2020, according to people with knowledge of the matter. While investors will receive 95% of their redemption requests after two months, the remaining 5% is expected to be paid out in Januar...
Source: swissinfo.ch
And Now A Liquidity Crunch: Credit Suisse Halts Redemptions From Renaissance Feeder Fund
by Tyler Durden Friday, May 28, 2021 - 02:20 PM Once upon a time, we couldn't go an hour without some dire news involving Deutsche Bank (and its tens of trillions of gross notional derivatives). Now, it's Credit Suisse's turn. In what was at least the third flashing-red headline for the day referencing the scandal-plagued Swiss Bank, moments ago Bloomberg reported that Credit Suisse, still humiliated from the billions it lost on Archegos and Greensill and countless subsequent banker terminations and defections, has temporarily barred clients from pulling their cash from a feeder fund that t...
Source: zerohedge.com