Credit Suisse, UBS slowed accrual of liquid assets in Q3

Both major Swiss banks continued to accumulate easy-to-sell assets over the three months to end-September. Expected cash outflows increased at a faster clip, however, pushing down the liquidity coverage ratios (LCRs) of each.

At Credit Suisse, high-quality liquid assets (HQLA) – which make up the numerator of the LCR – increased 4% over Q3 to Sfr 210.5 billion ($230.7 billion). This compares to a 26% rise in Q2. Net cash outflows, which make up the LCR denominator, surged 7% to Sfr 110.9

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