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Credit Suisse details Swiss watchdog action after Archegos blow up

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Credit Suisse details Swiss watchdog action after Archegos blow up
Credit Suisse details Swiss watchdog action after Archegos blow up   -   Copyright  (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html
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ZURICH (Reuters) – Credit Suisse detailed on Thursday the additional capital buffer imposed by Swiss market watchdog FINMA in relation to the Swiss bank’s exposure to collapsed U.S. investment fund Archegos.

FINMA imposed a temporary add-on of CHF 5.8 billion (USD 6.1 billion) to the Group’s credit risk RWA (risk-weighted assets) in relation to its exposure in the US-based hedge fund matter, which was included in movements in risk levels,” it said in a first-quarter regulatory filing.

(Reporting by Michael Shields, editing by John Miller)

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