According to the reports on Thursday, Credit Suisse Group (CS) has denied that it had considered tapping securities markets to raise fresh capital to meet new Swiss and international capital rules that are set to come into force.
Brady Dougan, Credit Suisse Chief Executive, quoted at an analyst briefing that, "We're going to be in excess of capital requirements at every point we need to be, so I don't think we have any thought we need to raise any--I guess you're talking about going out and raising equity--we don't have any thought of going out and doing that."
He was responding to the questions from Goldman Sachs Group Inc. analyst Jernej Omahen when he said that they have a very have a very capital-generative business, and they think for a good starting point on that.
Credit Suisse have reported to cut its goal for profitability and to reflect stricter capital rules and reported fourth-quarter earnings.
Credit Suisse claimed in January that it would lower the cash portion of bonuses and defer awards for more people. They will do this to cut the threshold for deferred compensation to 50,000 francs for 2010 from 125,000 francs previously.
“Credit Suisse’s compensation structure from 2010 is one of the most stringent compensation rules globally”, claimed by analysts.
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