ZURICH, July 22 (Reuters) - Credit Suisse’s chief executive said on Tuesday he does not believe the bank will suffer materially from a wide-ranging probe into foreign exchange trading by global securities regulators.
The Swiss bank’s Chief Executive Brady Dougan made the comments on an analyst call after reporting a second-quarter loss, echoing earlier comments downplaying its involvement.
Around 15 authorities around the world, including Switzerland‘s, are investigating allegations of collusion and price manipulation in the largely unregulated foreign exchange market.
It is alleged that traders used online chatrooms to collude in the fixing of benchmark prices. (Reporting By Katharina Bart)