Global financial fallout from the collapse of large banks in the U.S. continues, according to a series of reports this week. According to analysts cited by Bloomberg on Monday, the proposed [.]
By Pablo Mayo Cerqueiro and Chiara Elisei LONDON (Reuters) - Credit Suisse has written down its Additional Tier 1 bonds to zero as part of its takeove.
LONDON/NEW YORK – Credit Suisse said 16 billion Swiss francs (S$23 billion) of its Additional Tier 1 (AT1) debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS, angering bondholders on Sunday (March 19). Finma, the Swiss regulator, said the decision would bolster the bank's capital. The move.