quote:

The scenario now is a liquidation of CS, the source elaborates.

Finma takes the helm at CS, the shareholders lose their money, the special bondholders become the new owners of the bank.

Everything as foreseen in the rules and regulations since the Great Financial Crisis of 2008.

But now in real time.

What would happen to CS's bad bank in this case is the big question from the taxpayer's point of view, he said.

"Maybe the SNB will have to step in, like it did with UBS back then."

It would be exciting with CS Switzerland. This is likely to be spun off from the rest, as envisaged for the too-big-to-fail case.

This is where Zurich comes in, where CS has been headquartered since its founding by Alfred Escher.

Finance Director Ernst Stocker of the SVP has been busy with CS for weeks, along with the National Bank and Finma, according to another insider.

A spokesman for Ernst Stocker's finance directorate said he would be in touch if he commented.

CS is of great importance for Zurich as a business location. The majority of the big bank's Swiss employees work in Switzerland's economic canton.

An uncontrolled collapse would be a brutal blow for Zurich.

Interestingly, the finance directorate has the lead in the CS dossier and not that of the national economy under FDP woman Walker-Späh, the interlocutor said.

"The question will be whether the authorities ask ZKB to take over CS Switzerland."

ZKB is already one of the 5 systemically important financial houses in Switzerland. With CS Schweiz, it would become a domestic colossus.

A second candidate for a takeover of CS is Swiss Life. A spokesman for the life insurer would not comment on a purchase when asked.

Swiss Life would be interested in CS Switzerland if it were spun off, a Zurich banking source said yesterday.

Today, the rumor was corroborated by a second source. Rolf Dörig, the chairman of Swiss Life, is an ex-CS top man.

Whether Swiss Life would be able to cope with the "lump" CS Switzerland is an open question.

webcams for christ posted:

Zürcher Kantonalbank and Swiss Life are being floated as candidates to take over for CS (DeepL translation):

SKULL.GIF posted:

https://i.imgur.com/90n8qMw.gifv

https://twitter.com/zerohedge/status/1636030317654835201

Shear Modulus posted:

gently caress it, bail out the crime bank

Good Soldier Svejk posted:

We've checked it out, everything looks great. No need to panic

Subvisual Haze posted:

Wells Fargo is having issues?

Monkey Fracas posted:

Seems like this could be a temporary Number Freakout or the the first drop of Blood


Wooooooo

Monkey Fracas posted:

Seems like this could be a temporary Number Freakout or the the first drop of Blood


Wooooooo

spacemang_spliff posted:

credit suisse needs one of htose dogs with the barrel of hot choclate around its neck

Mr Hootington posted:

I don't think the banks are strong like some claim if rate hikes have to be paused or even cut

Mr Hootington posted:

Nasdaq threatening to go green

a.lo posted:

sick of these freaking posts

FlapYoJacks posted:

A Saint Bernard?

Mirthless posted:

Have you tried posting in another thread

Where do you think you are bro

a.lo posted:

sick of these freaking posts

spacemang_spliff posted:

credit suisse needs one of htose dogs with the barrel of hot choclate around its neck

HallelujahLee posted:

Pepe Silvia Browne posted:

Half the posters in this thread have trained themselves to think like Jim Cramer and other CNBC dipshits because they can't see something bad without automatically tacking on "but it won't matter number will be fine"

Paradoxish posted:

There are tons of posters here who will sagely agree that the markets aren't the economy and that the stock market is detached from reality, and then still throw their hands up in the air in despair when the market... continues to ignore reality, as it has always done.

Paradoxish posted:

There are tons of posters here who will sagely agree that the markets aren't the economy and that the stock market is detached from reality, and then still throw their hands up in the air in despair when the market... continues to ignore reality, as it has always done.

dads friend steve posted:

I want oil to cost negative money again, that was v funny

SKULL.GIF posted:

Just because it's predictable doesn't make it any less stupid.