Swiss regulator says central bank loan to Credit Suisse justified AT1 bond writedown

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Swiss regulator says central bank loan to Credit Suisse justified AT1 bond writedown
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Axel Lehmann, chairman of Credit Suisse Group AG, Colm Kelleher, chairman of UBS Group AG, Karin Keller-Sutter, Switzerland's finance minister, Alain Berset, Switzerland's president, Thomas Jordan, pr

Axel Lehmann, chairman of Credit Suisse Group AG, Colm Kelleher, chairman of UBS Group AG, Karin Keller-Sutter, Switzerland's finance minister, Alain Berset, Switzerland's president, Thomas Jordan, president of the Swiss National Bank , Marlene Amstad, chairperson of the Swiss Financial Market Supervisory Authority , left to right, during a news conference in Bern, Switzerland, on Sunday, March 19, 2023.

The regulator said the loan Credit Suisse received from the Swiss National Bank last week meant the conditions for a writedown had been met.

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