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Credit Suisse Gets More Cash in Greensill Funds
Published by maria gbaf
Posted on February 15, 2022
1 min readLast updated: February 9, 2026
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Published by maria gbaf
Posted on February 15, 2022
1 min readLast updated: February 9, 2026
Add as preferred source on GoogleZURICH (Reuters) – Credit Suisse has recovered more cash from the frozen supply chain finance funds linked to Greensill and has filed seven insurance claims in the matter so far, its asset management arm said on Monday.
ZURICH (Reuters) – Credit Suisse has recovered more cash from the frozen supply chain finance funds linked to Greensill and has filed seven insurance claims in the matter so far, its asset management arm said on Monday.
“Together with the cash that has already been distributed and cash remaining in the funds as of January 31, 2022, the cash position is equivalent to approximately $7.3 billion, or 73% of the funds’ AuM at the time of their suspension,” it said.
The bank said last month it had recovered $7.2 billion in the funds that it suspended last March.
(Reporting by Michael Shields, editing by John Revill)
Asset management is the systematic process of developing, operating, maintaining, and selling assets in a cost-effective manner. It involves managing investments on behalf of clients to achieve specific financial goals.
An insurance claim is a formal request made by a policyholder to an insurance company for compensation for a covered loss or damage. The insurer reviews the claim and determines the amount payable.
A frozen fund refers to an investment fund that has been temporarily suspended from trading or redeeming shares, often due to financial irregularities or market conditions that prevent normal operations.
Supply chain finance is a set of technology-based solutions that provide short-term credit that optimizes working capital for both buyers and suppliers. It helps improve cash flow and reduce costs in the supply chain.
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