Some Credit Suisse counterparties put curbs on new dealings involving lender: Sources

Some Credit Suisse counterparties put curbs on new dealings involving lender: Sources

At least four major banks, including Societe Generale SA and Deutsche Bank AG, have put restrictions on their trades involving Credit Suisse Group AG or its securities, according to five sources with direct knowledge of the matter.

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Credit Suisse declined to comment.

The bank has previously said that it is a strong, global bank.

“We fulfill and basically overshoot all regulatory requirements. Our capital, our liquidity basis is very strong,” Chief Executive Ulrich Koerner said earlier this week in a media interview, a spokesperson previously told Reuters.

The cautious stance adopted by Credit Suisse’s rivals, details of which have not been reported before, comes after the Swiss central bank threw a lifeline to the lender after its shares were pummeled in the aftermath of the US banking crisis this week. The curbs add to the bank’s problems as it tries to restructure operations and find its footing after a series of costly scandals.

These five people with direct knowledge of the matter requested anonymity because of the sensitivity of the situation.

Societe Generale has maintained existing counterparty positions with Credit Suisse, which it had cut back in recent weeks, but it is