(Finance) – Credit Suisse states that the request for destroy documents relating to transactions with Russian oligarchs it does not concern the conflict in Ukraine and the consequent sanctions imposed by the West (including Switzerland). The Financial Times had written about a letter “asking investors to destroy documents related to yacht loans from oligarchs and tycoons.” The Swiss banking group pointed out that this letter refers to one synthetic risk transfer transaction of November 2021in which the engaged parties signed a non-disclosure agreement.
“Credit Suisse’s right to ask” non-participating “investors to destroy the documents relating to this transaction was, as is market practice, stipulated under the Non-Disclosure Agreement – explains a note – Documents shared with investors they did not contain customer names and / or asset identifiers due to the blind pool nature of the transaction. They contained portfolio statistics and performance modeling, modeling related to underlying balance sheet positions. No data, relating to clients or otherwise, has been deleted within Credit Suisse and, for clarity, this it is in no way linked to the recent implementation of further sanctions – with which we are fully compliant “.
“The transaction and the request to non-participating investors to destroy confidential data have no relation to the ongoing conflict in Eastern Europe – it is repeated – No client data was made available to investors. No client data has been deleted within Credit Suisse. “In recent days, the Geneva parliamentarian Carlo Sommaruga had urged the Public Ministry of the Confederation (MPC) to open an investigation into the conduct of Credit Suisse in relation to the sanctions against the Russian oligarchs.