Credit Suisse publishes a damning report on risk management failures.
The Swiss bank failed to act on warning signs that its exposure to
Archegos, a family office that blew up in March, had breached internal
exposure limits. The 165-page report, published today alongside
downbeat quarterly earnings, details how the bank ended up losing more
than $5 billion on Archegos trades. It said it would punish those
responsible by docking their pay.
from NYT
keywords - situational awareness - thinking on one's feet -
operational control - systems management - etc
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