Credit Suisse has filed another insurance claim as part of the liquidation process of the Greensill funds, rising to 16 through the end of May, according to the latest investor update from the bank.

That brings the total amount of claims filed by Credit Suisse Asset Management (CSAM) to an estimated 2.1 billion US dollars. CSAM continues to prepare additional claims via the Greensill Bank and «expects to complete the claims filing process in the coming weeks for remaining exposures in respect of which it will be pursuing insurance claims,» it said in updated language from the previous report.

No Change in Repayments

To date, the amount repaid to investors remained unchanged at 6.75 billion dollars. Credit Suisse has so far liquidated 7.3 billion dollars of fund assets to date. At the time of the emergency closure of the supply chain finance funds (SCFFs) in March 2021, fund assets totaled about $10 billion, of which about 1,000 clients had invested in the vehicles.

That amount repaid to investors remained unchanged comes as no great surprise. In April Credit Suisse said it might not be able to make up Greensill losses for at least another five years. 

In December of last year, Credit Suisse returned around 400 million US dollars to investors in blocked supply chain finds.