Credit Suisse Greensill-linked funds have further $880 million in cash

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FILE PHOTO: The Greensill Bank is pictured in downtown Bremen

ZURICH (Reuters) – Credit Suisse said on Monday that four supply chain finance funds linked to Greensill had around $880 million in cash as of last week after it had already distributed $4.8 billion to investors.

Switzerland’s second-biggest bank is reeling from its exposure to the collapse first of Greensill Capital and then Archegos Capital Management within a month.

Its asset management unit was forced last month to shut $10 billion of supply chain finance funds that invested in bonds issued by Greensill after the British firm lost credit insurance coverage shortly before filing for insolvency.

(Reporting by Michael Shields and Oliver Hirt; Editing by Alexander Smith)

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