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Credit Suisse Holdings (USA), Inc. announces 2020 CCAR results

Credit Suisse Holdings (USA), Inc. (CSH USA), the US intermediate holding company of Credit Suisse AG, announced today that the Board of Governors of the Federal Reserve System did not object to the 2020 Capital Plan of CSH USA submitted as part of the 2020 Comprehensive Capital Analysis Review (CCAR).

"These CCAR results demonstrate that our US businesses are operating responsibly, with robust stress-testing capabilities, processes, methodologies and governance," said Thomas Gottstein, Chief Executive Officer of Credit Suisse AG. "CSH USA is a strong, profitable, well-capitalized entity, with the appropriate resources, governance and controls to operate successfully across a range of business environments and market conditions."

"Today’s results reinforce the strong capital position of CSH USA and the continued focus on the processes and governance supporting our capital planning framework. As we move forward over the coming months, Credit Suisse will continue to remain focused on the economic environment and ensure our plans take all factors into consideration. Credit Suisse remains dedicated to maintaining an effective capital management and stress testing framework," said Eric Varvel, President and Chief Executive Officer of CSH USA.

CSH USA is the top-tier entity for Credit Suisse Group AG’s US-domiciled subsidiaries and is subject to regulatory capital requirements applied on a consolidated basis.