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Credit Suisse: Consultation paper released by the Swiss Federal Department of Finance Mittwoch, 23. Dezember 2015 - 12:15

Consultation paper released by the Swiss Federal Department of Finance

The Swiss Federal Department of Finance issued its proposal for an amendment to the Swiss “Too Big to Fail” (TBTF) regime, including the new total-loss-absorbing capacity (TLAC) requirements, for consultation. These detailed requirements confirm certain proposals in the TBTF legislation review that was announced by the Swiss Federal Council on October 21, 2015 and provide additional clarity around the planned changes to the regime.
Zurich
23.12.2015

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Credit Suisse welcomes the proposals for the grandfathering of existing capital instruments. We also take note of the changes to the Swiss TBTF regime discussed in the Brunetti Commission and the formalization of TLAC requirements to implement the Financial Stability Board’s TLAC standard. During the consultation period, Credit Suisse will evaluate the proposals against these standards and comment on additional elements in the paper that could present market challenges to achieve a viable and robust Swiss TBTF/TLAC regime. We will continue to execute our funding strategy as previously communicated to the market.

Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 48,100 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Disclaimer

This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.

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