Credit Suisse to borrow up to about $54 billion from Swiss National Bank
Credit Suisse: Credit Suisse to borrow up to $54 billion from Swiss National Bank
Credit Suisse Group AG said on Thursday it intends to borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank in what it called "decisive action" to boost its liquidity. The planned move came after Swiss regulators pledged a liquidity lifeline to Credit Suisse in an unprecedented move by a central bank after the flagship Swiss lender's shares fell by as much as 30% on Wednesday.
Credit Suisse Secures $54 Billion Lifeline as Authorities Rush to Prevent Global Bank Crisis
Credit Suisse on Thursday said it would borrow up to $54 billion from the Swiss central bank to shore up its liquidity and investor confidence after a slump in its shares intensified fears about a global financial crisis.
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