Archegos Fisaco to Cost Global Banks $10 Billion: JPMorgan
Matteo Colombo/Getty Images This is 5x the normal loss level for a collateralized daily mark-to-market business, JPMorgan added. It however cited three lessons the industry could take away from the implosion that has roiled the markets. Global banks are expected to lose up to $10 billion following the Archegos Capital Management meltdown, JPMorgan said Monday — raising its estimate from an initial $2 billion-$5 billion — with Credit Suisse Group and Nomura Holding hardest hit. "One line of argument which could explain why the scale of losses suffered by [Cr...
Source: businessinsider.com