By Walter Grand in Economy —

Credit Suisse's $17bn debt to be written off at regulator's request

Credit Suisse's $17bn debt to be written off at regulator's request
Photo by Anne Nygård / Unsplash

The Swiss regulator FINMA said that this step should strengthen the bank's capital. However, the bank's bondholders will apparently end up with nothing. At that, the shareholders will still receive $3.23bn of compensation after the merger with UBS.