Credit Suisse was caught trying to shred evidence of Russian loans backed by yachts. They just revea

[Yo_Mama_Been_Loggin]

revealed they’ve given $1.7 billion to the country’s borrowers.

Embattled global investment bank Credit Suisse was recently revealed to have requested investors to shred evidence linking the institution to business dealings with Russian oligarchs. Now it’s showing just how deep its connections with Russia go.

In its annual report for 2021 released on Thursday, the bank revealed a gross credit exposure to Russia of 1.57 billion swiss francs, almost $1.7 billion. Sanctions placed on Russian businesses and individuals following the country’s invasion of Ukraine means that it is uncertain if these parties will be able to pay back their international loans. So $1.7 billion is how much Credit Suisse could lose if borrowers in Russia are unable to repay the bank.

The $1.7 billion is Credit Suisse’s gross exposure, although its net exposure is somewhat smaller at 848 million swiss francs, or $912 million. The net sum takes into consideration the bank’s collateral and financial hedges that helped mitigate risk. Neither the gross nor the net sum includes the 195 million swiss francs’ worth of assets that Credit Suisse holds in Russia, which could also be affected by sanctions.

Credit Suisse says its risk exposure to Russia is mainly composed of “corporate and institutional loans, trade finance activities, and derivative exposures,” and sought to reassure investors that the bank had “minimal total credit exposures towards specifically sanctioned individuals managed by our Wealth Management division.”

https://www.msn.com/en-us/money/savingandinvesting/credit-suisse-was-caught-trying-to-shred-evidence-of-russian-loans-backed-by-yachts-they-just-revealed-theyve-given-dollar17-billion-to-the-countrys-borrowers/ar-AAUTUM7

[Tommymac]

1. Enabling Autocrats, Murderers, Nazi Racists and Genocide and trying to wash their bloody red hands.

I hope every exec and shareholder involved rots in Hell. They deserve no less.

That is all.

[Chainfire]

2. Don't you expect that losing a billion dollars is their own little private hell?

Perhaps sanctions need to be expanded beyond the borders of Russia.

[Tommymac]

4. Yes, but hell on Earth. They need to suffer through eternity. nt

[Chainfire]

5. That is a punishment we can't impose.

[Tommymac]

6. Don't expect we can. This is only a discussion blog. Stating my opinion. Have a good day. nt

[DanieRains]

3. Poor Little Bank Scum

Helping murderers finance yachts with money they know was stolen from the Russian people.

[Hugin]

7. It has occurred to me this is related to why TFG was firing up Turd Force One...

Someone is calling the paper and he had to demonstrate it was the asset he claimed it to be.

Ended in failure. (but, I repeat myself)

[orwell]

8. That's peanuts to CS...

...take the friggin' loss and wash your hands of the blood money.

Propping us this asswipe and his minions may prove to be "radioactive" in the end...