External Content

The following content is sourced from external partners. We cannot guarantee that it is suitable for the visually or hearing impaired.

(Bloomberg) --Saxo Bank says in statement it’ll still be able to meet its regulatory capital requirements even if it cannot recover losses after Swiss franc’s Jan. 15 surge. * NOTE: Franc surged after Swiss National Bank dropped 3-yr-old peg to euro * Saxo says number of clients had “insufficient margin collateral” to cover their losses on positions on franc * Says it’s in contact with clients to settle unsecured amounts; expects some will not be able to settle balance in full, so bank will incur losses * If it cannot recover any of outstanding amounts, bank says it’ll still meet requirements * Says it generally holds only “insignificant” proprietary positions, didn’t insure any net losses from surge

To contact the reporter on this story: Frances Schwartzkopff in Copenhagen at fschwartzko1@bloomberg.net To contact the editor responsible for this story: Tasneem Hanfi Brogger at tbrogger@bloomberg.net

Neuer Inhalt

Horizontal Line


subscription form

Form for signing up for free newsletter.

Sign up for our free newsletters and get the top stories delivered to your inbox.







Click here to see more newsletters

swissinfo EN

The following content is sourced from external partners. We cannot guarantee that it is suitable for the visually or hearing impaired.

Join us on Facebook!

Bloomberg