The Archegos case, which costs Credit Suisse CHF 4.4 billion, has led to changes in the management of risk management and investment banking. But experts are skeptical. “The banking crises will be even more numerous and of greater magnitude,” predicts Beat Wittmann, founder and partner of Porta Advisors.
The same causes produce the same effects. “Extremely low interest rates and massive liquidity injections from central banks have prompted investors and banks to increase their indebtedness and participate in a hunt for yield. The risks will still swell, ”fears Eric Dor, professor at the University of Lille. “Everyone takes too many risks because the commissions obtained by the banks are particularly juicy,” he adds.