Op risk data: UBS lands $380m Archegos loss

Also: BofA billed for bilking customers; red faces over Deutsche greenwashing. Data by ORX News

July’s largest operational risk loss – over $380 million – stems from legacy risk management failures in the relationship between the former Credit Suisse and collapsed investment fund Archegos Capital Management. Acquiring bank UBS will foot the bill, made up of a $268.5 million fine from the US Federal Reserve and one of £87.1 million ($111.8 million) from the Prudential Regulation Authority in the UK.

Credit Suisse suffered a $5.5 billion loss in March 2021 when Archegos collapsed. Its

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here