Surveillance: CS CEO Koerner Urges Patience

 Ulrich Koerner, Credit Suisse CEO, said the bank had seen client inflows on Monday amid the collapse of Silicon Valley Bank. Magnus Billing, Alecta CEO, says its $2.1 billion bet on three niche US banks was “a big failure.” Ethan Harris, BofA Securities Head of Global Economic Research, says we are experiencing a "stress event" in an otherwise "strong" financial system. Rep. French Hill, (R) Arkansas, says the banking system is safe & sound. David George, Baird Senior Research Analyst, says SVB was "essentially a levered PE fund."  

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