The Swiss National Bank will provide liquidity to troubled lender Credit Suisse if necessary, the central bank said late Wednesday, in a joint statement with the Swiss Financial Market Supervisory Authority, or FINMA. The “problems of certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets,” SNB and FINMA said. “The strict capital and liquidity requirements applicable to Swiss financial institutions ensure their stability.
Credit Suisse meets the capital and liquidity requirements imposed on systemically important banks. If necessary, the SNB will provide CS with liquidity,” they said. U.S. stocks remained sharply lower ahead of the closing bell, but had moved well off session lows after Bloomberg reported that Swiss authorities and Credit Suisse were discusing ways to stabilize the bank. The Dow Jones Industrial Average DJIA, -1.16% was down 320 points, or 0.9%, while the S&P 500 SPX, -0.99% was off 0.
Money never Sleeps
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Swiss National Bank will provide Credit Suisse financial support ‘if necessary’Shares of the Swiss banking giant fell nearly 20 percent in early trading, creating new uncertainty in the wake of Silicon Valley Bank’s collapse. one simply cannot trust junky america ,there needs to be an intervention So in other words, Credit Suisse is in huge trouble
Source: washingtonpost - 🏆 95. / 72 Read more »
Credit Suisse appeals to Swiss National Bank for show of support - FTCredit Suisse has appealed to the Swiss National Bank (SNB) for a public show of support, the Financial Times reported on Wednesday, after the bank's shares slid as much as 30% and sparked a broader sell-off in European and U.S. bank stocks. Yes
Source: Reuters - 🏆 2. / 97 Read more »
Credit Suisse, Citi and more bank stocks tumble amid Silicon Valley Bank turmoilBank stocks in the U.S. and Europe are tumbling as the global financial system continues to reckon with the Silicon Valley Bank collapse—the largest bank failure since 2008. Chaos and fear have set in It used to be that keeping money in a bank was not a risk but under Biden that has all changed. Don't forgot CreditSuisse which is happening right now.
Source: ABC - 🏆 471. / 51 Read more »
Credit Suisse woes knock euro, sterling, Swiss FrancEuropean currencies fell sharply on Wednesday after Credit Suisse's tumble to a new low renewed worries about the European banking sector following Silicon Valley Bank's collapse. these will be affected
Source: Reuters - 🏆 2. / 97 Read more »
Stocks trim losses after report Credit Suisse, Swiss authorities hold talksU.S. stocks trimmed sharp losses Wednesday afternoon following a report that Swiss authorities and Credit Suisse held talks aimed at stabilizing the troubled... Bailout !? If you look at the history of Credit Susie $CS for the last 5 years, it's been tanking for a long time now. Credit Susie was tanking even during the Trump years. Why do people look to Credit Susie as an indicator of how the market is doing? Sounds like it's time for Credit Suisse to start playing the stock market!
Source: MarketWatch - 🏆 3. / 97 Read more »
Credit Suisse's biggest backer says can't put up more cash; share down by a fifthThe head of Credit Suisse Group's largest shareholder, Saudi National Bank (SNB) , said on Wednesday it would not buy more shares in the Swiss bank on regulatory grounds. Lol Credit Schussssssssssssssssssssssssssssssss... $CS RIP Credit S.
Source: Reuters - 🏆 2. / 97 Read more »