Switzerland's regulator has opened two more investigations into the Swiss bank's latest problems.
Finma opened an enforcement proceeding against Credit Suisse over Archegos, it said in a statement on Thursday. The hedge fund wrought 4.4 billion Swiss francs ($4.7 billion) in losses at the Swiss bank.
The Bern-based regulator confirmed that it opened an investigation last month into Credit Suisse's involvement with insolvent Greensill. The bank pulled the plug on a $10.1 billion line of supply chain funds it teamed up with Greensill on.
Swift Cash Call
Finma, which is ordering Credit Suisse to hold additional capital against both incidents, said it will publicly disclose the results of the probes – these typically take several months. Credit Suisse is already in Finma's crosshairs over covert surveillance on two of its top executives.
The news comes the same day as Credit Suisse disclosed a swift cash call, through which the bank expects to take in roughly 1.8 billion francs to replenish its capital. The bank swung to a softer-than-expected loss in the first quarter, amid the twin scandals.
More to follow
