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Credit Suisse CEO says capital plans meet new Swiss leverage rules

Reuters

LONDON (Reuters) - Credit Suisse said plans to boost its capital will meet and are "fully consistent" with tougher Swiss capital requirements, which were only released after the bank's proposals were unveiled on Wednesday.

Switzerland's government said late on Wednesday Credit Suisse and rival UBS will have to achieve a leverage ratio of 5 percent, with at least 3.5 percent made up by high-quality common equity tier 1 capital.

"This is fully consistent with what we've discussed (today) and it's now official. It is one uncertainty removed," said Credit Suisse CEO Tidjane Thiam, who interrupted a question and answer session with analysts to read out details of the new rules.

Credit Suisse announced it would raise 6 billion Swiss francs to improve its capital and leverage strength.

(Reporting by Steve Slater, editing by Sinead Cruise)