Credit Suisse AT1 Sales Probed by Japan’s Top Regulator
- FSA scrutinizing explanations brokerages gave to clients
- Investors in country bought close to $1 billion of the bonds
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Japan’s top financial watchdog is probing how Credit Suisse’s riskiest debt was sold to investors as the fallout sends ripples through the nation’s financial sector.
The Financial Services Agency is scrutinizing what kind of explanations brokerages gave about potential losses on the Swiss bank’s bonds and if customers were aware they could be written down to zero, new commissioner Teruhisa Kurita said in an interview.