Fall of Credit Suisse | Impact on India | CA Rachana Ranade

"if they need more and more money what are they going to do they are going to sell off their assets they're going to take back that money and that is how they'll be able to clear their liabilities right but then we have to understand how much money Credit Suisse has sparked in India which could fly away outside India"

"if something like someone like Credit Suisse or other Financial uh bank or other foreign Banks start or maybe trade Less in the derivative markets because of their bad financial position then automatically our volumes will dry up and somewhere or the other all those players related to this derivative markets are going to face the Heat"

"they will convert so whatever money sold they'll get in rupees they'll have to convert into their foreign currency and they will take that money out of India so our Forex reserves can be impacted"

"2022 this loss was amounting to 7.9 billion US Dollars and if I were to just give you a quantification is this really big or not this is the second worst loss if I'm comparing right from even 2008"

"on 14th March 2023 they published the delayed annual report wherein announced about the material weaknesses in its Financial control"

"customer deposits for three lakh ninety two thousand and this shrunk to 2 lakh thirty three thousand does that also clearly show about the loss of trust and because of which there is a lot of withdrawal in the deposit"

"the Credit Suisse stock has been falling and falling and falling since 2006. it is corrected by more than 97 percent"

"there were multiple scenarios multiple key events wherein the management the senior level management were either directly or indirectly involved in certain malicious activities"

"the bank had basically lent around 5 billion US Dollars and lost 5.5 billion US Dollars when archigo's Capital Management collapsed in early 2021 an independent report into Credit Suisse involvement with the risky hedge fund basically slammed the bank's conduct and found that its losses were the result of a fundamental failure of management and control"

"Credit Suisse had sold billions of dollars of green cells debt to investors assuring them in marketing material that the high yield notes were low risk because the underlying credit was fully insured but then you know what happened they went bankrupt"

"the Swiss Financial Market supervisory Authority finma said that the bank had planned spying operations on several occasions between 2016 and 2019 and carried out most of them"

"Credit Suisse has been found guilty by a Swiss Court of failing to prevent money laundering between 2004 and 2008"

"Credit Suisse asked investors to destroy documents related to yacht loans for oligarchs after Russia's invasion of Ukraine"

"Credit Suisse is going to borrow up to 54 billion dollars from Swiss Central Bank"

"I don't personally feel so. I feel that this is like a stop Gap Arrangement There may be a lot of pain which is still left in the system but I think it's just time that will tell as to what will happen next"