There are some serious rumours doing the rounds about a major bank failure October about to start with a disaster? Adam Button, Sunday, 02/10/2022 | 02:12 GMT+2 ABC Australia is reporting that a major investment bank is on the brink, citing 'a credible source'. Most are pointing towards Credit Suisse. It was caught out in the Archegos disaster and since then (Feb 2021) its share price has spiralled to $3.90 from $14.90. Moreover, the credit default swaps are at distressed levels. A memo from the CEO to staff circulated late on Friday: "I know it's not easy to remain focused amid the many stories you read in the media – in particular, given the many factually inaccurate statements being made. That said, I trust that you are not confusing our day-to-day stock price performance with the strong capital base and liquidity position of the bank," he wrote. Today, Fox Business' Charlie Gasparino reported that: "CEO Ulrich Koerner has been meeting w major institutional investors worried the firm is on shaky financial footing and assuring them the bank has strong capital, liquidity etc. One large investor tells me "the bank and wealth management platform are very valuable, but the investment bank is a disaster." The CDS's of the bank have been trading as if a Lehman Moment was about to hit." This could lead to an ugly open tomorrow and something far worse if it proves to be true. The bank will have to effective refute this in the strongest possible fashion, otherwise they'll have clients pulling money and couter-parties cutting credit lines. Rumours like these can be self-fulfilling. We've already got an inflation crisis and an energy crisis. How about a banking crisis too?