The measures include a ban on large loans, an increase in capital adequacy requirements and a restriction on accepting deposits, a warning to the institution’s manager, and the enlargement of deposit restrictions and the appointment of a special representative to the institution.

Germany’s Federal Financial Supervisory Authority (BaFin) identified four measures it had taken against the unnamed financial institution over a period of ten months beginning last November. The state-owned bank’s apparent misconduct, which follows multiple scandals of a similar nature, underscores the extent to which Turkey has become a permissive jurisdiction for illicit finance. 9.Germany’s financial regulatory authority on August 26 announced a series of punitive measures against an unnamed financial institution that journalists have identified as Ziraat Bank International AG, a wholly owned subsidiary of Turkey’s largest public lender, Ziraat Bank. A Credit Suisse spokesperson said the bank does “not comment on speculation.” Lehmann did not reply to an email seeking comment.Ĭredit Suisse said clients withdrew 110.5 billion Swiss francs ($119.65 billion) from Switzerland’s second-largest bank, in the last three months of 2022 when it reported its annual results on Feb. The regulator is reviewing whether Lehmann’s statements were potentially misleading, said the people, with one adding that Lehmann may not have been briefed correctly before he made those comments.Ī spokesperson for Finma declined to comment. The following day he told Bloomberg Television that the outflows had “basically stopped.”Ĭredit Suisse shares rose 9.3% on Dec. 1 that after strong outflows in October, they had “completely flattened out” and “partially reversed.”

Lehmann told the Financial Times in an interview streamed online on Dec. The next issue of Financial Post Top Stories will soon be in your inbox. If you don't see it, please check your junk folder.

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