UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549-5546

         DIVISION OF
CORPORATION FINANCE


Mail Stop 5546
								March 22, 2006

Via Facsimile 011 41 44 333 5870 and US Mail

Mr. Oswald J. Grubel
Chief Executive Officer
Credit Suisse Group
Paradeplatz 8 P.O. Box 1
CH 8070
Canton of Zurich, Switzerland

	Re:	Credit Suisse Group
		Form 20-F for the Fiscal Year Ended December 31, 2004
      Filed March 30, 2005
 		File No. 1-15244

Dear Mr. Grubel:

      We have limited our review of the above filing to
disclosures
relating to your contacts with countries that have been identified
as
state sponsors of terrorism, and we will make no further review of
the filing.  Our review with respect to this issue does not
preclude
further review by the Assistant Director group with respect to
other
issues.  At this juncture, unless otherwise directed, we are
asking
you to provide us with supplemental information so that we may
better
understand your disclosure.  Please be as detailed as necessary in
your response.  After reviewing this information, we may raise
additional comments.

      Please understand that the purpose of our review process is
to
assist you in your compliance with the applicable disclosure
requirements and to enhance the overall disclosure in your
filings.
We look forward to working with you in these respects.  We welcome
any questions you may have about our comments or on any other
aspect
of our review.  Feel free to call us at the telephone numbers
listed
at the end of this letter.

General

1. We note from public media reports that you may have operations
associated with Cuba, Iran, North Korea, Sudan and Syria, which
are
identified as state sponsors of terrorism by the U.S. State
Department and subject to U.S. economic sanctions imposed, in
part,
as a result of actions in support of terrorism and/or pursuit of
weapons of mass destruction.  In particular, we note a statement
attributed to the company that Credit Suisse`s new policy will not
affect current business relations its clients have in Cuba, Iran,
North Korea, Sudan and Syria.  Your Form 20-F does not contain any
disclosure about operations associated with these countries.
Please
address the materiality of your contacts with these countries.
Your
response should describe your current, historical and anticipated
operations in, and contacts with, Cuba, Iran, North Korea, Sudan
and
Syria, whether through subsidiaries, affiliates, joint ventures or
other direct and indirect arrangements.

2. In your materiality analysis, please discuss whether your
operations or contacts constitute a material investment risk for
your
security holders.  Please also address the impact on your business
of
any operational challenges or regulatory compliance challenges
resulting from operations associated with state sponsors of
terrorism.

3. In preparing your response please consider that evaluations of
materiality should not be based solely on quantitative factors,
such
as the approximate dollar amount of revenues and assets associated
with Cuba, Iran, North Korea, Sudan and Syria, but should include
consideration of qualitative factors that a reasonable investor
would
deem important in making an investment decision, including the
potential impact of corporate activities upon a company`s
reputation
and share value.  In this regard, we note from a public media
report
attributed to a company spokesman that Credit Suisse determined to
wind down operations in these countries because of the
geopolitical
situation and as a result of internal risk assessment.  We also
note
that Arizona and Louisiana have adopted legislation requiring
their
state retirement systems to prepare reports regarding state
pension
fund assets invested in, and/or permitting divestment of state
pension fund assets from, companies that do business with
countries
identified as state sponsors of terrorism.  Illinois, Oregon and
New
Jersey have adopted, and other states are considering, legislation
prohibiting the investment of certain state assets in, and/or
requiring the divestment of certain state assets from, companies
that
do business with Sudan.  Harvard University, Stanford University,
Yale University, Dartmouth College and the University of
California
Board of Regents have all adopted policies prohibiting investment
in,
and/or requiring divestment from, companies that do business with
Sudan.  Your materiality analysis should address both your
internal
risk assessment and the potential impact of the investor sentiment
evidenced by the referenced legislative and educational
institution
actions directed toward companies operating in these countries.

      Please respond to these comments within 10 business days or
tell us when you will provide us with a response.  Please
understand
that we may have additional comments after reviewing your
responses
to our comments.  Please file your response letter on EDGAR.

      We urge all persons who are responsible for the accuracy and
adequacy of the disclosure in the filing to be certain that the
filing includes all information required under the Exchange Act of
1934 and that they have provided all information investors require
for an informed investment decision.  Since the company and its
management are in possession of all facts relating to the
company`s
disclosure, they are responsible for the accuracy and adequacy of
the
disclosures they have made.

      In connection with responding to our comments, please
provide,
in writing, a statement from the company acknowledging that:

the company is responsible for the adequacy and accuracy of the
disclosure in the filing;

staff comments or changes to disclosure in response to staff
comments
do not foreclose the Commission from taking any action with
respect
to the filing; and

the company may not assert staff comments as a defense in any
proceeding initiated by the Commission or any person under the
federal securities laws of the United States.

      In addition, please be advised that the Division of
Enforcement
has access to all information you provide to the staff of the
Division of Corporation Finance in our review of your filing or in
response to our comments on your filing.

      Please contact James Lopez at (202) 551-3536 if you have any
questions about the comments or our review.  You may also contact
me
at (202) 551-3470.



								Sincerely,




								Cecilia D. Blye, Chief
								Office of Global Security
Risk




cc: 	Todd Schiffman
		Assistant Director
		Division of Corporation Finance