Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Credit Suisse AG > News item |
Moody's: Outlook negative for Swiss banks
Moody's Investors Service said the fundamental credit outlook for the Swiss banking system is negative, reflecting the challenges faced by the largest international banks, pressure on banking secrecy rules and the difficult environment for private and domestic banks.
Swiss banks have been affected to varying degrees by the global financial crisis, depending on their international exposures. The agency said that large universal banks such as UBS AG and Credit Suisse AG have been affected most, reporting significant trading losses and writedowns due to their exposure to the global capital markets and to illiquid structured assets and, in the case of UBS, subsequently suffering from client money outflows.
Nevertheless, the agency emphasized that domestic players continue to display consistent earnings due to their solid franchises and low levels of risk, although competition and cost efficiency remain challenges.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.