The capital plans announced by Credit Suisseyesterday have turned the Swiss clocks back to 2008, when it last raised capital. The bank will conjure up SFr15.3bn . Funny that. When the Swiss National Bank’s financial stability report questioned its capital position last month, Brady Dougan, Credit Suisse’s chief executive, and the board vehemently denied the need for more. Credit Suisse has caved in and “accelerated” measures to put its capital position beyond doubt. They are a sound first step but, critically, do not yet tick the Basel III box.
瑞士信貸(Credit Suisse)昨日公佈的資本金補充方案，讓人們想起2008年該行上一次擴充資本金時的情境。這一次，瑞信得設法籌集到153億瑞士法郎資本金。可笑的是，瑞士央行(Swiss National Bank)在上月發表的金融穩定報告中質疑瑞信的資本金狀況時，瑞信執行長杜德恆(Brady Dougan)及董事會還強烈否認其存在補充資本金的必要。現在，瑞信已停止爭辯，並開始「加快腳步」採取措施來打消市場對其資本金充足狀況的擔心。這確實是一個良好的開端，但這些措施卻仍不能使瑞信達到《巴塞爾協議III》(Basel III)的要求——這一點很要命。