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Comment by dgrin91 | Hacker News Reader

First silvergate, now SVB. Is this going to be a wave across the banks?

Today, Credit Suisse delayed its 2022 report after the last minute call from SEC: https://www.cnbc.com/2023/03/09/credit-suisse-to-delay-its-2...

I don't know what to make of it.

It's probably no related to swaps that expired..... Better pick themselves up by their bootstraps and quit the avocado toast.

It could be routine (no more news from banks that are in trouble please), but the SEC does have access to the numbers in the filing since it goes into EDGAR about a month before the announcement.

Credit Suisse is facing liquidity issues and tarnished credibility after a rash of scandals and screwups, see https://www.reuters.com/business/finance/spies-lies-chairman... for a summary. From your link it looks like their finance reporting in recent years is now under question as well. It doesn't look related to what happened at SVB or Silvergate.

Credit suisse has been on the rocks for a year

Credit Suisse has been on the rocks for over a decade. Widely considered to be one of the most mismanaged large bank, and I assume propped up by Switzerland’s government for appearances’ sake.

Compare their numbers to any other investment bank.

https://www.macrotrends.net/stocks/charts/CS/credit-suisse-g...

Anyone holding long term bonds they bought before the fed raised rates is in liquidity trouble. The question is if those institutions will have a run or not.

a firesale on long term bonds could be a cool opportunity

one if banks need to rebalance but

especially if the OCC tells banks they dont need to touch that crap anymore to fulfill their regulatory requirements

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