Investors have started legal action against the Swiss financial regulator over its decision to wipe out bonds worth more than £14 billion during the emergency rescue of Credit Suisse.
The Swiss Financial Market Supervisory Authority, known as Finma, caused uproar among debt investors last month by writing down some bonds issued by Credit Suisse to zero but preserving some value for the troubled bank’s shareholders.
It emerged yesterday that a group of investors representing SwFr4.5 billion (£4.1 billion) of the SwFr16 billion of decimated bonds
Decimated is one in ten, or 10%. So centimated, no?