ZURICH (Reuters) - Credit Suisse has identified $2.3 billion worth of loans exposed to financial and litigation uncertainties in its Greensill-linked supply chain finance funds, it told investors on Tuesday. Switzerland’s second-biggest bank has been reeling from its exposure to the collapse first of Greensill Capital and then Archegos Capital Management within a month. Its asset management unit was forced last month to shut $10 billion of supply chain finance funds that invested in bonds issued by Greensill after the UK firm lost credit insurance coverage shortly before filing for insolvency. It has been working to return assets from the funds to investors, and on Tuesday said it would be able to distribute another $1.7 billion, bringing the total distribution so far to $4.8 billion. The bank has since suspended the funds’ managers and changed the head of its asset management unit. “We remain acutely aware of the uncertainty that the wind-down process creates for those of our clients who are invested in the funds,” Credit Suisse said in a statement. “We are doing everything that we can to provide them with clarity, to work through issues as they arise and, ultimately, to return cash to them.” In a presentation to investors, it said it had identified “three segments of exposure” in $2.3 billion worth of the funds’ assets, for which it noted risks associated with the obligors’ financial situation, legal complexities and potential litigation, as well as potential bankruptcy. It said it was working with legal and restructuring experts to address the concerns through strategies such as legal action, security enforcement and insurance claims. Separately, it said it had identified $2.3 billion worth of funds related to three groups: mining magnate Sanjeev Gupta’s GFG Alliance, construction group Katerra and coal mining company Bluestone. The bank said it has so far collected $2 billion from receivables redeemed when the four supply chain finance funds (SCFFs) were suspended on March 1. This, along with the cash position in the SCFFs and the earlier payout, comes to $5.4 billion - equivalent to more than half of the total assets under management when the funds were suspended, Credit Suisse said. The bank said it was in contact with Greensill’s administrators and would continue to work towards recovering money. It said it would provide a further update on progress made by the end of April 2021.