Exactly, and this legal entity has been created to represent a lifeboat, if push comes to shove. It was done as a requirement by the regulator for all systemically relevant banks in Switzerland. If you are a client, make sure you are banking with the Swiss entity!
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https://twitter.com/matt_levine/status/1576633193163214853
From someone who knows how to read the chart.
Edit: and ft alphaville: Register to read | Financial Times
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I couldn’t care less. I’m investing in VT. CS is nothing but a small bug on my planet.
Also, companies going bust is a very healthy and necessary thing to happen in an efficient economy. It’s bailouts I’m worried about, not busts.
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The majority of etf used by Viac or my second pillar (ciepp) are managed by CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd.
So as long as they can still manage it properly or hand it over to another asset management company, I should not be impacted.
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It’s a nice and juicy market. I’m sure another bank would be only too happy to take over the business,
What i don’t really want to find out is if 1) ESI Suisse actually works and 2) the government would have to step in.
and about 25k contingent workers added on top, which conveniently does not need to be reported. 
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It will probably happens, like UBS. Although, normaly, as a systemic bank, they have to have enough to not go bankrupt from a legal perspective. I hope it won’t occur, my father having some money there (fortunately he transfered a large part in another bank).
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A friend if mine (in Germany) had money there and had to wait years.
How was this in Switzerland? Did ESI Suisse step in? Was it a Swiss branch of the bank?
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I was thinking the same…and it would not making sense that you lose the money for retirement…but I guess anything can happen?
Yes it was a Swiss branch, otherwise I wouldn’t invest. I think I’ve got the principal like within 1 month and, to my big surprise, even got the interest after 6 months or so.
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So dear Members, now that CS is slowly going bankrupt, who’s afraid to keep their finpension money with them?
What would happen if the bank did go insolvent?
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Isn’t there also the distinction of CS (Schweiz) AG and CS (International) AG - of which only the latter might be heading under?
Are the investment vehicles with the former or the latter?
Edit: With the former (from factsheet)
“Credit Suisse Asset Management (Schweiz)
AG”
Also relevant:
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they are with CSAM indeed, but Asset Management, even having a separate legal entity, still belongs to the CS Group.
It’s very easy to split this entity from the group and make it an independent company e.g. “Second Boston” or sell it to another bank. That was the whole point of reorganizing banks after 2008. At least in this point regulators did their homework before the next crisis.
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First, there’s aleeady a thread about the effects of CS going bust here → https://forum.mustachianpost.com/t/what-would-happen-if-credit-suisse-goes-bust
Second, as I already replied there, CSIF funds will probably not really be affected by CS going bankrupt as these funds are in a separate special AuM bucket and also the securities in the funds are not CS (a small % is), but of other companies, which are not directly affected by CS going bankrupt, not more than any other funds. There may be some administrative issues in the beginning, but nothing dangerous.
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I’ve seen the price of CS during the last year and it lost more than 50% of its value. I think it will not fail but definitely will change ownership. Not that it’s “suisse” now…but I suppose it will be less “suisse” and more “switzerland”. I think that the “C” is slowly growing an appendice upwards and leftwards…
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I think this is probably a sophisticated joke but i don’t get it 
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By the way the story of Kaupþing can give an idea how it might work if a system relevant bank goes bankrupt. Domestic business is taken over by the government and reorganized, all foreign assets and liabilities were dumped to decay in a financial equivalent of nuclear waste storage facility.
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VIAC uses Credit Suisse to hold the securities in their solutions. They use CS funds for some of them but not all.
Finpension uses Credit Suisse (Schweiz) AG as their depository bank for both cash and securities.
3a cash up to 100K is privileged in case of bankruptcy, that means it gets a high spot in the order of distribution and should, but may not in extreme cases, be retrieved.
Securities are not considered as assets of the bank holding them for the Vorsorgestiftung and should not be lost in a bankruptcy but, instead, get deposited in another bank/brokerage by the Vorsorgestiftung should CS go bankrupt.
This assumes the assets actually exist and that CS did not produce false documents that haven’t been caught by audits/regulatory authorities. Given CS history, I wouldn’t put fraud above them. I find it hard to do business with an entity I don’t trust, relying only on the law and regulatory authorities to protect me, so I’m moving my VIAC assets to frankly.
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