Oct 2 (Reuters) – Credit Suisse executives scrambled over the weekend to reassure key clients and investors about the state of the Swiss institution’s liquidity and position, the Financial Times reported on Sunday.
Contacted by Reuters, a spokesperson for Credit Suisse declined to comment on the financial daily’s article.
The contacts were made after Credit Suisse’s Credit Swap Default (CDS) soared on Friday, which took six basis points to 247 bp, the highest in at least ten years, according to S&P Global Market Intelligence.
According to the FT, a Credit Suisse official denied reports that the bank had approached investors to discuss a possible capital raise.
(Mrinmay Dey in Bangalore, French version, Nicolas Delame)