Global banks warn of possible losses from hedge fund default

Swiss bank Credit Suisse said Monday it may have suffered a ‘highly significant’ loss from a default by a U.S.-based hedge fund on margin calls that it and other banks made last week, while Japan’s Nomura said it could face a loss of US$2 billion due to an event with a U.S. client.
Source: ctv business
Global banks warn of possible losses from hedge fund default