Day After Deutsche Bank Admits Not All Is Well, Swiss Giant Credit Suisse Also Admits It Needs More Cash

The official narrative is well-known: the bank does not need the funds, it is simply a precaution ahead of new, more stringent capital requirements:

The capital is likely to be used to absorb losses triggered by a faster restructuring of the Swiss group, the people said. But Credit Suisse will also need higher capital ratios to comply with toughening demands from regulators.

The Swiss authorities are expected to announce an increase of minimum capital ratios over the coming months, which could prove more challenging for the bank than its better capitalised local rival, UBS. Credit Suisse’s common equity tier one capital ratio of 10.3 per cent compares with UBS’s 13.5 per cent

http://www.ft.com/intl/cms/s/0/09c8c42e-6d19-11e5-aca9-d87542bf8673.html