Credit Suisse Says Capital Discussion Now ‘Off the Table’

The transcript discusses the fallout from Archegos and the measures taken to address the issues, including exiting positions and raising capital through a convertible bond. The decision to use a convertible bond was driven by the need to achieve a 13% CT1 ratio. Risk reduction measures in the prime brokerage business are underway, with plans to reduce leverage exposure significantly. The financial impact of Greensill is being managed, with efforts to recover cash for investors. Reviews are ongoing, but no further personnel changes are anticipated at this time.

What was one of the key actions taken to address the Archegos fallout?

• Expanding the prime brokerage business

• Reducing management salaries

• Increasing leverage exposure

• Issuing a mandatory convertible bond

Why did the company choose a convertible bond over other capital-raising methods?

• It required no board approval

• It offered a longer maturity period

• It was the only available option

• It helped achieve a 13% CT1 ratio

What is one of the measures being taken to reduce risk in the prime brokerage business?

• Increasing financial leverage

• Reducing leverage exposure by $35 billion

• Expanding the client base

• Hiring more financial analysts

How much cash has been recovered from Greensill's original $10 billion?

• $9.1 billion

• $7.8 billion

• $5.4 billion

• $3.2 billion

What is the company's priority regarding the Greensill situation?

• Increasing personnel in the finance department

• Acquiring new assets

• Getting the cash back to investors

• Expanding their investment in Greensill