High levels of capital to absorb losses as a going concern and in a resolution scenario. Stable and low-risk earnings from global wealth management and Swiss retail, private, and corporate banking. Demonstrated asset quality and a highly collateralized lending book. Profitability burdened by ongoing restructuring and run-off of illiquid non-strategic activities. Limited visibility of sustainable earnings potential post-restructuring. Complexity and elevated market and operational risk from the high share of capital markets-related businesses and non-strategic assets. The stable outlook on Credit Suisse and CSG reflects our assessment that it is unlikely that its restructuring program would vastly derail or cause a materially miss of its targets for cost cutting, risk reduction, and capital strengthening. It also reflects our assessment that
