Credit Suisse cuts leverage exposure by $52bn

Investment banking unit bears brunt of post-Archegos balance sheet trimming

Credit Suisse cut leverage exposures by Sfr48 billion ($51.7 billion) in the fourth quarter, to the lowest in a year.

Total leverage ratio exposure stood at Sfr875.1 billion at end-December, down 5% and 9% from three and 12 months prior, respectively. The bank attributed the drop to a trimmed balance sheet and a tailwind from currency moves.

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Exposures at the investment bank (IB) unit, which has been under heavy restructuring since the Archegos prime brokerage debacle a year ago