Credit Suisse’s op risk up $6.5bn on subprime-era litigation

Increase offsets the removal of Archegos-related capital add-on by Finma

Credit Suisse’s operational risk-weighted assets (RWAs) rose 7.8% in the second quarter, as models reacted to recent developments in court cases stemming from the bank’s subprime mortgage-era activities.

Externally-mandated parameter and model updates added Sfr5.9 billion ($6.5 billion) to op RWAs, which hit Sfr68.4 billion at end-period.



The updates stemmed from an increase in provisions to the tune of $850 million announced in Q4 2020 for legal disputes related to US residential

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