The blow was particularly heavy for Marko Dimitrijevic led financial group Everest Capital, which according to data compiled by Bloomberg closes its largest hedge fund with assets of about 830 million. Dollars because of losses from the Swiss franc. The largest currency broker FXCM US would receive a capital injection of 300 million. Dollars from Leucadia National, after the loss of his clients led to a threat to disrupt the capital requirements of regulators. In the past quarter FXCM has carried out transactions worth 1.4 trillion. dollars.
"The decision of the central bank shocked people around the world," says Timothy Masaad, chairman of the US Committee on futures trading as saying the regulator closely monitors the situation. "The losses of the banks are not too big, but this case shows that they still gamble," says turn Gordon Kerr, a consultant in Cobden Partners. He noted that the biggest risk for brokers, as the situation may lead to outflow of clients and liquidity.
Apart from direct currency trading banks can suffer through services offered by them as securities lending, to commercial transactions and cash management for hedge funds. The negative effect will be strongest for Swiss banks, as the strong franc will reduce the inflow of assets from outside and stimulate export of money in other countries. In the long run financial institutions will suffer from the negative impact of currency expensive on the whole economy. According to agency Moody's in the future may suffer credit rating of the Swiss banks and companies for asset management, as a strong currency puts pressure on their profitability. The agency warns that there may be negative consequences for banks in Austria and Poland, which have large exposures to loans in Swiss francs.