Came upon this article over at r/Switzerland from poster u/ubley. In short Credit Suisse off loaded packaged loans to hedge funds, which means there’s some counterparty risk. How long oligarchs continue to make payments in billions worth of toys they can’t touch remains to be seen.
https://www.ft.com/content/bfea0069-4143-4e4b-accb-9712ce95a282
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