Following the bankruptcy of
Silicon Valley Bank in the United States, Credit Suisse, Europe's largest investment bank, has faltered, causing a lot of jitters in global financial markets. The Swiss central bank has rushed to evolve, but there is speculation that a second Lehman crisis will begin in Europe.

This is a report by reporter Kim Jong-woo.


Credit Suisse shares plunged up to 2% on European stock markets overnight.

European stocks also slumped.

It's shocking considering that it is a financial stock with relatively little volatility in its stock price and its reputation as the world's ninth largest investment bank.

Credit Suisse's net loss last year was about 30 trillion won.

The stock has fallen by a quarter in one year.

Signs of crisis were already detected two years ago.

The investment failure, called the hedge fund Akegos incident, cost 9 trillion won, and it even coincided with the phenomenon of "bank runs" in which anxious investors scrambled to withdraw money.

He has also been implicated in various corruption scandals, including money laundering allegations and tax evasion.

In addition, the recently released annual report revealed significant weaknesses in internal accounting controls, raising anxiety.

Then, the Saudi National Bank, the largest shareholder, delivered the decisive blow, saying, "There is no more investment."

[Sam Stovall/CFRA Research Investment Strategist: The first shock came at a Silicon Valley bank in the United States. The Fed subsided with promises of support, but this time Credit Suisse shocked again.]

The Swiss central bank urgently announced a 10 trillion won financing plan, evolving the crisis.

But Credit Suisse is attracting money from all over the world, and it's so big that it's not reassuring.

Lehman, which led to the global financial crisis in 1, had about $4 billion in assets under management, and Credit Suisse is estimated to be around twice that amount.

[Park Sang-hyun/Hi Investment & Securities Researcher: There seems to be a view that the fact that the crisis can now spread to Europe is a little different from the SVB situation.

As the European Central Bank begins investigating the risk exposures associated with Credit Suisse by individual banks, market jitters are expected to increase as the insolvency of closely intertwined European banks could be a major disaster.

(Video Interview: Jeon Kyung-bae, Video Editing: Kim Ho-jin)