Credit Suisse Default Swaps Near 2009 Level
Credit Suisse’s market capitalization dropped to around 10 billion Swiss francs. The market value was above 30 billion francs as recently as March 2021.
Bloomberg 2 October 2022
Credit Suisse Chairman Axel Lehmann
Swissair was the national airline of Switzerland between its founding in 1931 and bankruptcy in 2002.
2 October 2001 saw an increased necessity for strong liquidity, as all suppliers insisted on cash payments of outstanding invoices following the request of payment delay announced the day before.
Cash reserves of Swissair filed on this day were barely sufficient to carry out the first morning flights. During the morning, fuel suppliers refused to fuel the waiting aircraft.
Senior Credit Suisse executives spent the weekend reassuring large clients, counterparties and investors about the Swiss bank’s liquidity and capital position in response to concerns raised about its financial strength
FT 2 October 2020
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