Capital issuance spree boosts Credit Suisse’s Tier 1 buffers
Contingent note sale pushes additional Tier 1 capital up 22%
Credit Suisse topped up its capital buffers in the third quarter, helping to improve key regulatory ratios.
In the three months to end-September, the Swiss firm issued two perpetual Tier 1 contingent notes: one $1.75 billion in size and another totalling Sfr 525 million. These pushed its additional Tier 1 (AT1) outstanding capital amount to Sfr 13.5 billion, up 22% on the quarter. Common Equity Tier 1 (CET1) capital also increased, by 3% to Sfr 37.4 billion.
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