BERLIN (AP)– Swiss bank Credit Suisse said Monday it might have suffered a “extremely significant” loss from a default by a U.S.-based hedge fund on margin calls that it and other banks made last week, while Japans Nomura stated it might deal with a loss of $2 billion due to an event with a U.S. client.Credit Suisse didnt recognize the “substantial” hedge fund or the other banks affected, or provide other details of what happened. “Following the failure of the fund to satisfy these margin commitments, Credit Suisse and a number of other banks are in the process of leaving these positions,” the business said.The Financial Times reported that Archegos had large direct exposures to ViacomCBS and a number of Chinese innovation stocks and was struck hard after shares of the U.S. media group fell last week. The bank said “there will be no problems related to the operations or financial strength” of Nomura or its U.S. subsidiary.The Archegos site was not immediately readily available.

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