March 6, 2024 (NO COMMENTS)

Credit Suisse USA experienced two instances of trading losses surpassing value-at-risk limits in Q4 2023, resulting in the reimposition of a higher market risk capital add-on that had been lifted just two quarters earlier.

The Swiss bank’s US intermediate holding company – which remains regulated on a standalone basis even after the group’s acquisition by UBS – notched buy-and-hold hits for 138% and 104% of VAR on separate, unspecified days during the quarter.