Credit Suisse held just 10% margin against Archegos book

Swiss bank gave family office 10 times leverage, compared with four or five times at Goldman

Credit Suisse losses
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Credit Suisse collected just 10% margin for the equity swaps it traded with Archegos Capital Management, Risk.net can reveal – a figure that undershoots industry standards, and helps explain the mammoth $4.7 billion loss suffered by the Swiss bank when its client defaulted at the end of March.

The average swap margin posted by Archegos was around 10% at the overall portfolio level, according to a person familiar with the matter. That is well below industry standards for equity swaps. The head

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