Credit suisse plans additional cuts to its already diminished investment bank over the next year, with its fixed income, commodities and currencies business likely to be worst hit as the Swiss lender struggles to grapple with tough new rules on leverage. Bosses are seeking to cut the balance sheet by SFrl40bn (US$147bn) in order to boost its leverage ratio to 4.5% by the end of 2015. Some of the cuts will come from the previously announced winding down of non-strategic assets and optimisation, but there will be new cuts totalling SFr70bn.
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