{"id":19503,"date":"2023-03-16T17:29:57","date_gmt":"2023-03-16T11:59:57","guid":{"rendered":"https:\/\/www.iquanta.in\/blog\/?p=19503"},"modified":"2023-03-16T17:43:14","modified_gmt":"2023-03-16T12:13:14","slug":"credit-suisse-collapse","status":"publish","type":"post","link":"https:\/\/www.iquanta.in\/blog\/credit-suisse-collapse\/","title":{"rendered":"Credit Suisse Crash : Another Bank Biting The Dust"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.iquanta.in\/blog\/credit-suisse-collapse\/#The_Chaos_in_Credit_Suisse\" >The Chaos in Credit Suisse<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.iquanta.in\/blog\/credit-suisse-collapse\/#CAT_2023_Prep_Group_Join_Here\" >CAT 2023 Prep Group. Join Here!<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.iquanta.in\/blog\/credit-suisse-collapse\/#Why_did_Credit_Suisse_Collapse\" >Why did Credit Suisse Collapse<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.iquanta.in\/blog\/credit-suisse-collapse\/#Ripple_Effects\" >Ripple Effects<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.iquanta.in\/blog\/credit-suisse-collapse\/#CAT_2023_Prep_Group_Join_Here-2\" >CAT 2023 Prep Group. Join Here!<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.iquanta.in\/blog\/credit-suisse-collapse\/#How_far_do_Credit_Suisses_problems_go\" >How far do Credit Suisse\u2019s problems go?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.iquanta.in\/blog\/credit-suisse-collapse\/#_Conclusion\" >\u00a0Conclusion<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"The_Chaos_in_Credit_Suisse\"><\/span><strong>The Chaos in Credit Suisse<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<blockquote><p><span style=\"color: #800080;\"><em>\u201cYou take the\u00a0blue pill\u00a0&#8211; the story ends, you wake up in your bed and believe whatever you want to believe.<\/em><em>\u00a0<\/em><em>You take the red pill &#8211; you stay in Wonderland and I show you how deep the rabbit hole goes.\u201d<\/em><\/span><\/p>\n<p><em style=\"color: #222222; font-family: Verdana, BlinkMacSystemFont, -apple-system, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif; font-size: 15px;\">&#8211; Morpheus (The Matrix Trilogy )<\/em><\/p><\/blockquote>\n<p>The world of Banking has certain glamour to it. Maybe it\u2019s the smart number crunching kids in shiny suits, maybe the Maybachs they drive, maybe because of the caffeine charged, analytical way of viewing life that you want to acquire. Long story short, it\u2019s a sector that impacts the global financial health in a significant way and practically keeps money moving, managing how to deal with debts or how to smartly use the spare money you generate to multiple the penny and dimes into dollars or dirhams.<\/p>\n<p>Long story short, it\u2019s an incredibly secretive world \u2013 and that\u2019s all banks offer to us \u2013 privacy. As a customer hailing its service, you want your bank to be transparent but tightlipped about your data, statistics or even your personal info. Banks offer that sense of stability and trustworthiness.<\/p>\n<p>Then <strong>SVB<\/strong> went bankrupt \u2013 a blunder so huge , no amount of secrecy could protect it \u2013 its inability to liquidate its fed based assets due to red tape complications made it default its loan it had to pay , the debt it had to pay off. Alarmed, the users immediately took a defensive stance and hence SVB tanked and went broke. The ripple effects were almost instant as NY based <strong>Signature Bank<\/strong> declared bankruptcy. The chaos had started in the USA and bank stops suddenly started hitting low \u2013 bearish trend was almost imminent as the <strong>DJIA<\/strong> showed.<\/p>\n<p>Soon, the ripple crossed the Atlantic and hit Europe. And one of Europe\u2019s finest took the first hit.<\/p>\n<hr \/>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"CAT_2023_Prep_Group_Join_Here\"><\/span><strong><a href=\"https:\/\/chat.whatsapp.com\/G2CPnodkrxS8r1c8xhCBQI\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #ff0000;\">CAT 2023 Prep Group.<\/span> <span style=\"color: #0000ff;\">Join Here!<\/span><\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<hr \/>\n<h2><span class=\"ez-toc-section\" id=\"Why_did_Credit_Suisse_Collapse\"><\/span><strong><em>Why did Credit Suisse Collapse<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Apparently, Credit Suisse didn\u2019t seem to be at risk given its reputation as a banking powerhouse. October 2022, they raised 2.64 bn USD as quarterly profit \u2013 a figure that earnt them the position of 17<sup>th <\/sup>largest asset based banking service provider in the planet. The graphs were steady and suddenly they weren\u2019t anymore.<\/p>\n<p><strong>Yesterday, their share price hit the record low of about 1.40$\/share.<br \/>\n<\/strong><br \/>\n<em>CAPEx of CS had always been a pain for its shareholders \u2013 especially those who want to be more aggressive with their spending. When the financial crisis hit , this timidity was perceived as fear of going bankrupt and alarmed \u2013 the shareholders started selling stocks at the price of peanuts \u2013 and bled until it shrank to 1\/10<sup>th<\/sup> of the net worth that it had.<\/em><\/p>\n<p><a href=\"http:\/\/www.iQuanta.in\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-18461\" src=\"https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/01\/WhatsApp-Image-2023-01-02-at-12.55.10-PM-300x57.jpeg\" alt=\"iQuanta CAT 2023 Course\" width=\"684\" height=\"130\" srcset=\"https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/01\/WhatsApp-Image-2023-01-02-at-12.55.10-PM-300x57.jpeg 300w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/01\/WhatsApp-Image-2023-01-02-at-12.55.10-PM-1024x194.jpeg 1024w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/01\/WhatsApp-Image-2023-01-02-at-12.55.10-PM-768x145.jpeg 768w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/01\/WhatsApp-Image-2023-01-02-at-12.55.10-PM-150x28.jpeg 150w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/01\/WhatsApp-Image-2023-01-02-at-12.55.10-PM-696x132.jpeg 696w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/01\/WhatsApp-Image-2023-01-02-at-12.55.10-PM-1068x202.jpeg 1068w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/01\/WhatsApp-Image-2023-01-02-at-12.55.10-PM.jpeg 1280w\" sizes=\"(max-width: 684px) 100vw, 684px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ripple_Effects\"><\/span><strong><em>Ripple Effects<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Stocks in many other\u00a0European Banks plunged on Wednesday as traders took fright. However, it is important to remember that share prices reflect investor sentiment rather than the real strength of balance sheets.<\/p>\n<p>Market movements can cause customers to panic and pull cash, creating a run on deposits that is risky for smaller banks that rely more heavily on client cash. However, larger banks such as Credit Suisse are meant to be in a much stronger position, in part due to government rules and regulators\u2019 annual stress testing brought in after the financial crisis.<\/p>\n<p>After the chaos of 2008, regulators around the world introduced tighter restrictions \u2013 particularly for banks deemed to be important to the global financial system. Most central banks and national regulators have introduced annual stress testing to check whether banks can withstand severe economic shocks and market turmoil, while still supporting their customers.<\/p>\n<p>In the worst case scenario, systemically important banks are meant to have enough capital and so-called \u201cliving wills in place, to ensure they can fail in a relatively orderly way. However, these living wills have yet to be tested by a real-life banking failure.<\/p>\n<hr \/>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"CAT_2023_Prep_Group_Join_Here-2\"><\/span><strong><a href=\"https:\/\/chat.whatsapp.com\/G2CPnodkrxS8r1c8xhCBQI\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #ff0000;\">CAT 2023 Prep Group.<\/span> <span style=\"color: #0000ff;\">Join Here!<\/span><\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<hr \/>\n<h2><span class=\"ez-toc-section\" id=\"How_far_do_Credit_Suisses_problems_go\"><\/span><strong>How far do Credit Suisse\u2019s problems go? <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The bank is in the process of a major restructuring plan, meant to stem major losses, which ballooned to 7.3bn Swiss francs (\u00a36.6bn) in 2022, and revive operations hampered by\u00a0multiple scandals over the past decade\u00a0involving alleged misconduct, sanctions busting, money laundering and tax evasion.<\/p>\n<p>In the past three years alone, Credit Suisse has been caught in corporate espionage after hiring professional spies to track outgoing executives; admitted to defrauding investors as part of the <strong><em>Mozambique\u00a0Tuna Bond<\/em><\/strong>, resulting in a fine worth more than \u00a3350m; and been embroiled in the\u00a0collapse of the lender Greensill Capital\u00a0and the US hedge fund Archegos Capital in 2021.<\/p>\n<p>It also came under fire after the release of the\u00a0Suisse secrets investigation\u00a0by global reporting outlets including the Guardian in 2022, which showed it had\u00a0served clients involved in torture, drug trafficking, money laundering, corruption and other serious crimes over decades.<\/p>\n<p>That same year, Swiss prosecutors found the bank guilty of helping to launder money on behalf of the Bulgarian mafia, although the bank has denied wrongdoing and intend to appeal against the ruling.<\/p>\n<p>But problems have not yet gone away. Earlier this week, the lender admitted there had been\u00a0<em>\u201cmaterial weaknesses\u201d in its internal controls\u00a0linked to financial reporting, but assured bosses were working on a plan to \u201cstrengthening the risk and control frameworks<\/em><em>\u201d.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"_Conclusion\"><\/span><strong>\u00a0<\/strong><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One thing is for sure, that it has been a big and eventful week in both local and global markets, be it the Adani Insider Trading Probe Findings or the rattling of the banking and finance sector \u2013 so the future of a bullish market seems absurd, at least not immediately.<\/p>\n<p><strong>iQuanta guides you in your CAT preparation from the very basics. For high content relevancy and 24*7 doubt solving, enroll for iQuanta&#8217;s CAT 2023 Course. Click on the link below to check out the details.<\/strong><\/p>\n<p><a href=\"http:\/\/www.iQuanta.in\"><img decoding=\"async\" class=\"wp-image-19468 aligncenter\" src=\"https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/03\/WhatsApp-Image-2023-03-15-at-2.31.32-PM-278x300.jpeg\" alt=\"iQuanta CAT Course\" width=\"502\" height=\"542\" srcset=\"https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/03\/WhatsApp-Image-2023-03-15-at-2.31.32-PM-278x300.jpeg 278w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/03\/WhatsApp-Image-2023-03-15-at-2.31.32-PM-950x1024.jpeg 950w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/03\/WhatsApp-Image-2023-03-15-at-2.31.32-PM-768x828.jpeg 768w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/03\/WhatsApp-Image-2023-03-15-at-2.31.32-PM-150x162.jpeg 150w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/03\/WhatsApp-Image-2023-03-15-at-2.31.32-PM-300x323.jpeg 300w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/03\/WhatsApp-Image-2023-03-15-at-2.31.32-PM-696x750.jpeg 696w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/03\/WhatsApp-Image-2023-03-15-at-2.31.32-PM-390x420.jpeg 390w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2023\/03\/WhatsApp-Image-2023-03-15-at-2.31.32-PM.jpeg 1000w\" sizes=\"(max-width: 502px) 100vw, 502px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chaos in Credit Suisse \u201cYou take the\u00a0blue pill\u00a0&#8211; the story ends, you wake up in your bed and believe whatever you want to believe.\u00a0You take the red pill &#8211; you stay in Wonderland and I show you how deep the rabbit hole goes.\u201d &#8211; Morpheus (The Matrix Trilogy ) The world of Banking has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19508,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[367],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.4 (Yoast SEO v21.9.1) - 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