EXCLUSIVE: Credit Suisse explains its restructuring plans

Author: Gemma Varriale | Published: 10 Dec 2013
  • Wilson Ervin, vice chairman of the group executive office for Credit Suisse, has said that the bank’s plan to overhaul its legal structure was not motivated by a desire to give special protection to its Swiss operations;
  • Instead, he said, the intention was to develop a resolve-able structure that protects the critical functions of banking;
  • Credit Suisse will issue bail-in-able debt from its group holding company, allowing regulators to carry out a single point of entry resolution on a top-down basis in the event of a crisis;
  • Ervin also outlined what other priorities policy-makers need to address on the path to safer banking.

Credit Suisse’s planned overhaul of its legal structure was not motivated by a desire to safeguard its Swiss operations, Wilson Ervin, the bank’s vice chairman of the group executive office has said.

The planned restructure will see the Zurich bank set up a subsidiary...


 

 

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