HONG KONG -- Standard Chartered Group Chief Executive Bill Winters raised doubt over the $17.5 billion wipeout of Credit Suisse's additional tier 1 (AT1) class bonds, expressing skepticism over whether the Swiss lender was actually insolvent.
Winters was speaking on a panel hosted by the Hong Kong Monetary Authority and the Bank of International Settlement on Friday. When asked to reflect on the recent failure of three banks -- Silicon Valley Bank, Signature Bank and Credit Suisse -- he said, "My observation of the three banks that failed is that they would appear to have been solvent."
