Credit Suisse's Painful Final Days: $75 Billion in Depositor Outflows.
Credit Suisse reported that clients withdrew nearly $69 billion in the first quarter, leading to a fire sale to UBS in March. The troubled Swiss bank lost $1.46 billion in the first three months of the year and suffered significant net asset outflows, particularly in the second half of March. While client withdrawals have slowed down, they have not yet reversed, suggesting that UBS has its work cut out as it prepares to absorb its stricken competitor.