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US Bank Giants Cut Direct Exposure to Credit Suisse for Months

  • JPMorgan, BofA, Citi still work with Swiss lender amid retreat
  • Regulators examining American firms’ ties to Credit Suisse

The biggest US banks have been whittling down their direct exposure to Credit Suisse Group AG for months as the Swiss lender stumbled from one crisis to the next. 

Regulators this week have amped up queries with firms including JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. about those exposures, which are now minimal, according to people familiar with the matter. The US firms have been examining and managing their counter-party exposure to Credit Suisse while still working with the Swiss lender, the people said, asking not to be identified discussing internal deliberations.