Credit Suisse swaps into higher yielding dollar rates for op risk

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Credit Suisse swaps into higher yielding dollar rates for op risk

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E8KC7K Office tower of Swiss bank Credit Suisse (CS) in Zurich Oerlikon, Switzerland. | Alamy Stock Photo

Credit Suisse has found one way to deal with low interest rates in Europe: switch into another currency. The Swiss bank has conjured up an extra Sfr250m ($250m) of net interest income (NII) per year from changing how it hedges the capital to meet its operational risk.

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