Credit Suisse has delayed the release of its annual report after receiving a last-minute call from the US Securities and Exchange Commission (SEC).

The US regulator has asked for additional information about cash flow statements provided by the Swiss banking group in 2019 and 2020.

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These statements, which comprised share-based compensation and foreign exchange hedges, were previously revised by the embattled bank.

The SEC is now asking further details on the bank’s ‘technical assessment’ of those revisions.

In a statement, Credit Suisse said that SEC made a call late on 8 March 2023  regarding “certain open SEC comments about the technical assessment of previously disclosed revisions to the consolidated cash flow statements in the years ended December 31, 2020, and 2019, as well as related controls.”

The bank added: “Management believes it is prudent to briefly delay the publication of its accounts in order to understand more thoroughly the comments received.

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“We confirm the 2022 financial results as previously released on 9 February 2023, are not impacted by the above.”

The SEC intervention comes shortly after the Swiss Financial Market Supervisory Authority (FINMA) censured Credit Suisse for its poor management of business related to now defunct financier Lex Greensill and his companies.

Earlier this month, Reuters reported that the bank, whose image was tarnished by a series of scandals and setbacks, is planning to offer higher deposit rates in Asia in an attempt to lure investments from wealthy clients in the region.