HQLAs ‘not liquid enough’ for Credit Suisse or SVB
Basel Committee report sheds new light on liquidity risk during 2023 banking turmoil
The Basel Committee on Banking Supervision’s latest report on last year’s turmoil in the banking sector provides new insights into why Credit Suisse and Silicon Valley Bank (SVB) struggled to acquire sufficient cash and liquid assets.
The report, published today (October 11), says during the turmoil, deposit outflows were particularly prevalent in Credit Suisse’s international operations, and specifically its wealth management division, rather than in its Swiss operations. Payment agents, central
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