State Street Offers No Comment on Credit Suisse Report

The transcript discusses the potential acquisition of Credit Suisse by State Street, highlighting the market's reaction and the complexities involved. Tom Metcalf provides insights into the unexpected market movements and the profit warning issued by Credit Suisse. State Street's response to the acquisition rumors is analyzed, with a focus on their interest in Credit Suisse's asset management arm. The discussion also covers Credit Suisse's market valuation and its comparison with UBS, raising questions about the feasibility of a full acquisition.

What was the reaction of the US Bank to the reports about State Street's potential bid for Credit Suisse?

• They announced a press conference.

• They denied the reports.

• They declined to comment.

• They confirmed the reports.

What was State Street's response to the media reports about the acquisition?

• They issued a full denial.

• They focused on existing projects without a full denial.

• They announced a merger.

• They confirmed the acquisition.

What aspect of Credit Suisse might be most attractive to State Street?

• The real estate holdings

• The retail banking sector

• The asset management arm

• The entire banking operations

What is the current market cap of Credit Suisse compared to UBS?

• Credit Suisse is higher than UBS

• Credit Suisse is equal to UBS

• Credit Suisse is much lower than UBS

• Credit Suisse is slightly lower than UBS

What is the proposed share price for Credit Suisse in the potential acquisition?

• 6.69 Swiss francs

• 9 Swiss francs

• 16 billion Swiss francs

• Many times higher than UBS