The fallout from the Archegos Capital Management fire sale could force Credit Suisse to suspend its planned $1.6bn share buyback programme and push through a fresh round of restructuring, analysts warn.

The Swiss bank says it sees  “highly significant and material” losses from the sale of around $20bn worth of stocks by the family office of hedge fund manager Bill Hwang. The blow comes on the heels of its ties with collapsed supply chain finance firm Greensill Capital and a $450m hit from the closure of hedge fund York Capital.