Credit Suisse Sets Aside Additional $850M For US Disputes

Law360, London (January 8, 2021, 2:11 PM GMT) -- Credit Suisse said Friday that it has set aside an extra $850 million to cover litigation in the U.S. over residential mortgage-backed securities, bringing the total amount to almost $1.2 billion and pushing the bank's results for the last three months into the red.

The Swiss lender has said it will set aside another $850 million to cover costs of litigation in the U.S. over residential mortgage-backed securities. (iStock) Credit Suisse Group AG has been in a decade-long dispute with bond insurer MBIA Insurance Corp. The tussle is over warranties given by the Swiss investment bank over residential mortgage-backed securities it...

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