Bankenkrise : "Dies ist eine Notfallrettung": UBS übernimmt angeschlagene Credit Suisse | Diskussion im Forum

[faultcode]

6.2.
UBS to Sell Billions More AT1 Bonds in Coming Years
https://finance.yahoo.com/news/ubs-sell-billions-more-at1-10…
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UBS Group AG plans to sell billions more in Additional Tier 1 bonds over the next few years after a blockbuster deal last year that heralded a revival for the market for risky bank debt.
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The market was rocked to its core last March, when about $17 billion of the securities were wiped out as part of UBS’s takeover of Credit Suisse Group AG. But high demand for sales of the securities by UBS and Barclays Plc late last year marked a recovery, and reassured banks with AT1s that have first call dates this year.
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toi, toi, toi

[Finestfinanz]

Wie konnte man die Bankenpleite der Credit Suisse bzw die Übernahme vorraussehen?

Die Credit Suisse ist damals ja in Schieflage geraten. Anhand der früheren Prämien der Credit Default Swaps (CDS), die damals vor der Übernahme der UBS bei über 1200 lagen und vergleichbar mit den Prämien vor der Lehman Brothers Pleite (Insolvenz) waren, konnte man erahnen das die Credit Suisse Pleite gehen würde bzw. übernommen werde musste um eine Pleite zu verhindern. Die Quelle dazu:

[faultcode]

21.9.
Credit Suisse AT1 Claim Prices Climb on Bets Lawsuits to Succeed
https://finance.yahoo.com/news/credit-suisse-at1-claims-clim…
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Some investors are bidding up legal claims on Credit Suisse’s additional-tier 1 debt in a bet that they can recover some value from the bonds that were wiped out during the UBS Group AG takeover.

The trading desk at Cantor Fitzgerald has circulated an offer to buy some of the claims at 9.5 cents on the dollar each, according to people familiar with the matter who asked not to be identified. That’s up from around 3 to 4 cents in mid-August, they said.

It’s a sign that some money managers are taking wagers on a settlement with Swiss authorities over the controversial decision to make Credit Suisse’s risky AT1 bonds worthless. Investors in the AT1 claims are targeting a settlement of around 15 cents, said one person who is part of one of the lawsuits.
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[shadow-hunter]

Good bye CS. 😀

Schade, aber eine solche Bank hätte keine Überlebenschancen mehr. Zuviel verzockt, zu wenig verdient, zu hohe Boni und wenig Banking Kompetenz im VR und Management.

[rasa88]

so ich habe bei der Klage mitgemacht.
ca. 420 Schweizer Franken hat der Spaß gekostet.
Ich bin gespannt ob man sich eventuell vergleichen will.

[rasa88]

Schweizerischer Anlegerschutzverein: Credit Suisse-Aktionäre: Eine Klage nach Art. 105 FusG ist lanciert

Für 120 Franken kann man sich anschließen.

..was ist eure Meinung ?

[faultcode]

da schau her:

1.7.
UBS Balks at Potential IPO for Credit Suisse Domestic Unit, Swiss Paper Says
https://finance.yahoo.com/news/ubs-balks-potential-ipo-credi…
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UBS Group AG isn’t planning to take Credit Suisse’s domestic unit public, according to a report Saturday in Schweiz am Wochenende.

UBS CEO Sergio Ermotti opposes the option because he believes it may inadvertently strengthen the bank’s international competitors, the Swiss newspaper said, citing people familiar with the matter who it didn’t identify.

After UBS agreed in March to buy Credit Suisse in an emergency government-brokered rescue, Swiss politicians urged UBS to split off Credit Suisse’s domestic branch and list it on the Swiss stock exchange as a means to preserve jobs, increase competition and limit the risk of broader contagion if UBS were to fail.

The domestic unit’s fate has been widely watched as Swiss-based companies and politicians voice concerns over the market power that the combined bank may exercise. A UBS spokesman declined to comment on the matter.

It’s possible Ermotti may still consider spinning off a combination of the UBS and Credit Suisse domestic banks, under the name UBS Switzerland, as long as UBS retains a majority stake, according to the newspaper. Such a scenario would allow a double shareholding structure and may appease concerns about the bank being too big to fail.

Ermotti previously said that all options were on the table and that the “base case scenario” is for UBS to retain Credit Suisse’s domestic unit.

[faultcode]

also wenn man schon freiwillig(?) von der Credit Suisse zu Wells Fargo wechselt, auch in der jetzigen Situation, dann ist das mMn nach so, wie wenn man aus dem Fenster springt, um vor dem Feuer zu fliehen -- auch wenn man "in a few months" dort Head of equity capital markets business werden soll:


https://finance.yahoo.com/news/credit-suisse-loses-investmen…


Ehrlich gesagt habe ich Schwierigkeiten mir eine super-große, globale Vermögensverwaltung neben einer vergleichweise Mini-Investment-Bank bei der vergrößerten UBS vorzustellen, ohne daß es dabei in den nächsten Jahren zu einer Unwucht kommen wird; siehe auch:

31.5.
Mitarbeiter*innen gehen vor Übernahme -- 200 Kündigungen pro Woche bei der Credit Suisse
https://www.bluewin.ch/de/news/wirtschaft-boerse/credit-suis…

Pro Woche flattern bei der Credit Suisse aktuell bis zu 200 Kündigungen herein. Mitarbeiter*innen verlassen die Bank vor der Übernahme der UBS.
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Die am Mittwoch in der Zeitung «Blick» genannte Zahl von täglich rund 150 eintreffenden Kündigungen wurde von der CS-internen Quelle allerdings als zu hoch bezeichnet. Offiziell wollte die Grossbank keinen Kommentar zu den Personalabgängen abgeben.
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[faultcode]

5.5.
Credit Suisse AT1 Bond Wipeout Was Foreseeable Risk, SNB Says
https://finance.yahoo.com/news/credit-suisse-at1-bond-wipeou…
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The Swiss banking watchdog’s decision to wipe out about $18 billion worth of high-risk bonds as part of the deal to rescue Credit Suisse Group AG was a possibility investors should have been aware of, Swiss National Bank President Thomas Jordan said.

“In the AT1 issue the legal setup was very clear,” he said on Friday in St. Gallen in eastern Switzerland. “It is not something where investors can say it was not foreseen to be used under those circumstances.”
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=> nun kommt das Narrativ aus der Schweiz hinterher

[faultcode]

2.5.
Credit Suisse AT1 Bondholders Who Lost $1.7 Billion in UBS Deal File Lawsuits
https://finance.yahoo.com/news/credit-suisse-at1-bondholders…
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Hundreds more Credit Suisse Group AG bondholders sued Switzerland’s banking regulator after their securities valued at about $1.7 billion were wiped out during the lender’s government-brokered takeover by UBS Group AG.

Law firm Pallas Partners, which filed the suit in a Swiss court on April 18, said the Finma agency had no right to order the writedown and is seeking full compensation for its clients — 90 institutional investors and asset managers with $1.35 billion in so-called additional tier-1 bonds, as well as 700 retail and family office clients accounting for some $300 million.

“This was an abuse of process and the resolution procedure should not be used by Switzerland to enable UBS to take over Credit Suisse to the detriment of AT1 holders,” Pallas founder and managing partner Natasha Harrison said in a statement.

The latest claims mean that investors representing more than a third of the $17 billion in AT1 bonds issued by Credit Suisse have now sought to get their money back. US law firm Quinn Emmanuel last month filed a claim in Swiss court representing more than 400 institutional investors who held about $4.5 billion worth of AT1s, and at least two other complaints have been filed.
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