Already over 110 million francs: Federal government continues to make money with CS loans

class=”sc-29f61514-0 kHgAwW”>

At the end of May, it had raised a total of CHF 110.6 million with billions of SNB liquidity assistance to bail out Confederation Credit Suisse (CS) – about CHF 30 million more added since the end of April. CS has since repaid the entire loan. Finance Minister Karin Keller-Sutter (59) has already said this on Tuesday.

According to the relevant list on the website of the Federal Finance Department (FDF), Credit Suisse paid a cumulative risk premium of CHF 60.6 million for the liquidity assistance guaranteed by the federal government between March 20 and May 31. .

For loans taken under the so-called “Public Liquidity Stopper” (PLB), the large bank has to pay a risk premium of 1.5 percent on the loans actually drawn.

SNB has a say too

In addition to the risk premiums, there are also premiums for the supply of the loan amounting to CHF 50 million as of the end of May. However, these premiums can only be transferred after the loan agreement has expired.

The 0.25 percent commitment premium represents a total of CHF 100 billion that CS can withdraw. As of the end of May, CS had no actual outstanding money, as can be seen on the website.

For the big bank, this is not yet the full cost of emergency liquidity: it also paid the Swiss National Bank (SNB) interest and risk premium.

In addition to the SNB loan guaranteed by the federal government, CS Mitte, in the depths of the crisis, was able to access other loans from the National Bank in March: In addition to the SNB liquidity assistance (“Immediate Liquidity Assistance” ELA), over 50 billion under the Bank’s collateral, the SNB also Provided CS and UBS with another liquidity assistance loan (“ELA Plus”) for a total of up to 100 billion under bankruptcy privilege. (SDA)

Source :Blick