Credit Suisse Group today announced that it plans to centralize its capital markets funding activities.

The firm said that this move will simplify its issuance structure and align its capital markets activities with the integrated banking model. As of March 31, new securities for funding and capital purposes will primarily be issued by Credit Suisse, the principal operating subsidiary of Credit Suisse Group.

Credit Suisse will become a U.S. reporting company registered with the SEC and will begin filing periodic reports with the SEC. Credit Suisse USA Inc. will no longer file periodic reports with the SEC but will continue to maintain its credit ratings.

Fitch Ratings affirmed the ratings of CS (USA), following the announcement.

Credit Suisse also said that it will fully and unconditionally guarantee all outstanding US-registered debt securities issued by CS USA. In addition, in order to comply with requirements to exempt CS USA from Securities and Exchange Commission reporting obligations, Credit Suisse Group will fully and unconditionally guarantee on a subordinated basis all outstanding US-registered debt securities issued by CS USA. The guarantees will be filed with the SEC by March 30.