In the second quarter earnings report,Credit SuisseAn investigation report on the Archegos hold-up incident was also published. The investigation found that the company failed to manage the risks associated with Archegos, and related losses amounted to US$653 million. In the operation of the main business of investment banks, neither line of defense has been able to prevent the spread of risk. According to the investigation, the company did not participate in illegal acts or bad investment practices. The investigation did not find any deficiencies in the bank's risk control system. This incident was mainly due to the failure of the risk control system to operate effectively. The company chairman said that Credit Suisse will learn lessons from this incident and has now drastically reduced the leveraged positions of risk assets and investment banks in their main business.
瑞信公布Archegos爆仓事件独立调查报告
Credit Suisse releases independent investigation report on the Archegos hold-up incident
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