Credit Suisse cuts leverage exposure by $11.5bn

CET1 leverage ratio remained flat over Q1 as drop in capital more than offset cuts in prime brokerage business

Leverage exposures at Credit Suisse dropped Sfr11.1 billion ($11.5 billion) in the first quarter of the year, as the bank continued slashing its prime brokerage business following the Archegos blow-up.

Total leverage ratio exposure stood at Sfr878 billion at end-March, down 1.3% and 10.6% from three and 12 months prior, respectively.

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The investment bank unit was the only division to report a quarterly drop in leverage exposures, down Sfr12 billion or 4% over the period. The unit

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