Credit Suisse AT1 Holders Force Finma to Share Wipeout Logic
- Swiss courts order release of decree by financial regulator
- Wipeout came after lender was sold to Swiss rival UBS
A Credit Suisse sign in Basel, Switzerland.
Photographer: Fabrice Coffrini/AFP/Getty Images
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Holders of the Credit Suisse Group AG debt that was wiped out in March have forced the Swiss financial regulator to release the order that justified the write down.
A Swiss court has ordered Finma to release the decree that allowed Credit Suisse to wipe out roughly $17 billion of Additional Tier 1 notes, according to documents seen by Bloomberg. The Financial Times reported the disclosure earlier.