Credit Suisse sees no material issues from Libor probe

Thu Feb 7, 2013 1:15am EST
 

ZURICH (Reuters) - Credit Suisse (CSGN.VX: Quote) said on Thursday it does not expect to have any material issues in relation to a global investigation into rigging of benchmark interest rates.

The Zurich-based bank said it is cooperating fully with the investigations, adding it will vigorously defend itself against civil lawsuits relating to Libor, calling them "factually and legally meritless with respect to Credit Suisse".

Credit Suisse also said it was cooperating with the U.S. and Swiss authorities to seek a settlement to an investigation over allegations it helped wealthy Americans evade taxes, but said it could not give any information on timing.

It noted it had already made provisions of $325 million to settle the case in 2011.

(Reporting by Emma Thomasson)

 
A worker uses a cordless screwdriver to fix the logo of Swiss bank Credit Suisse at a branch office in Zurich February 4, 2013. REUTERS/Arnd Wiegmann