Credit Suisse Tumbles on Report of Outflow Claims Probe

Credit Suisse shares have slumped to another intraday record low. That's after Reuters reported that Switzerland's financial regulator is reviewing comments the chairman Axel Lehmann made about outflows in an interview with us back in December. Here's what he said then. Doubt was basically half-stopped. What we saw is two, three weeks in October, boom, and since then flattening out, they have stopped. It's gradually coming back in particular in Switzerland. So what more do we know now about this probe, Tom? Yes, early days.

I mean, basically Reuters were reporting that FINRA, the Swiss regulator, is effectively looking at those comments we've just heard. And the nub of the issue appears to be effectively some months after he made those comments. Those outflows did continue. And of course, in between that period, credit swiss is out there raising money. So very early days, not clear yet whether this will be a formal probe. It's just questions. But obviously credit swiss investors not looking to look at it.

Bloomberg