Banks to Recoup 5%-20% of Losses in Archegos Restructuring: FT

Global banks, including Credit Suisse and Morgan Stanley, that lost more than $10b from the meltdown of Archegos, are expecting to recoup between 5% and 20% of their losses, FT reports, citing unidentified people familiar with the matter.

• Credit Suisse, the biggest casualty of the collapse, which left it facing more than $5b of losses, could get back as little as $250m: FT
• The banks and restructuring advisers are nearing the end of a “workout” negotiation to agree how assets that belong to Archegos will be distributed to the banks with claims against it, the people said
• The funds to ...