Credit Suisse update says cash outflows accelerated at start of Q4 By Reuters

ZURICH (Reuters) – Credit Suisse gave an updated outlook for its fourth quarter on Wednesday as the embattled Swiss bank prepared to ask its shareholders for permission to raise new equity.

“As previously disclosed, Credit Suisse began experiencing deposit and net asset outflows in the first two weeks of October 2022 at levels that substantially exceeded the rates incurred in the third quarter of 2022,” the bank said.