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Credit Suisse Freezes More Supply Chain Finance Funds as Greensill Scandal Widens Credit Suisse Group AG froze four more funds that invested in the bank’s $10 billion supply chain finance strategy, adding to the widening scandal surrounding the bank’s exposure to Lex Greensill’s failed empire. The additional funds have about $1.2 billion in assets, some of which they had put into the four Greensill-linked funds that Credit Suisse is now liquidating. The bank suspended them effective March 1, the same day it froze the supply chain finance strategy. It posted the decision in an investor u...

Credit Suisse executives ‘overruled’ risk managers on $160m loan to Greensill Credit Suisse is scrambling to gauge the magnitude of its exposure to Greensill © Keystone / Christian Beutler Senior Credit Suisse executives overruled risk managers to approve a $160 million (CHF148 million) loan to Greensill Capital, which the collapsing finance group now has “no conceivable way” to repay, according to people familiar with the matter. This content was published on March 12, 2021 - 08:54 March 12, 2021 - 08:54 Stephen Morris, Robert Smith, Arash Massoudi and Owen Walker in L...

ZURICH, March 11 ― Credit Suisse faces questions from regulators and insurers as it grapples with the fallout from the collapse of US$10 billion (RM41.3 billion) worth of funds linked to British financial services firm Greensill Capital. The Swiss bank has hired external firms to help with their...

ZURICH/TOKYO – Credit Suisse faces questions from regulators and insurers as it grapples with the fallout from the collapse of $10 billion worth of funds

(Bloomberg) -- Credit Suisse Group AG froze four more funds that invested in the bank’s $10 billion supply chain finance strategy, adding to the widening scandal surrounding the bank’s exposure to Lex Greensill’s failed empire. The additional funds have about $1.2 billion in assets, some of which they had put into the four Greensill-linked funds that Credit Suisse is now liquidating. The bank suspended them effective March 1, the same day it froze the supply chain finance strategy. It posted the decision in an investor update on its website dated March 9. The largest of the additional fu...