Credit Suisse to borrow up to about $54 billion from Swiss National Bank

Credit Suisse will be borrowing up to 50 billion Swiss francs from the Swiss National Bank under a covered loan facility and a short-term liquidity facility.

The measures come after shares of the lender saw sharp declines on Wednesday after its top investor Saudi National Bank said it would not be able to provide further assistance.People walk by the New York headquarters of Credit Suisse on March 15, 2023 in New York Cityannounced it will be borrowing up to 50 billion Swiss francs from the Swiss National Bank under a covered loan facility and a short-term liquidity facility.

The latest steps will "support Credit Suisse's core businesses and clients as Credit Suisse takes the necessary steps to create a simpler and more focused bank built around client needs," the company said in anIn addition, the bank is making a cash tender offer in relation to ten U.S. dollar denominated senior debt securities for an aggregate consideration of up to $2.

"We thank the SNB and FINMA as we execute our strategic transformation. My team and I are resolved to move forward rapidly to deliver a simpler and more focused bank built around client needs," he said.

i don't think another bank run is happening

MY PLAN ON HOW TO MAKE CREDIT SUISSE SOLVENT: 1. DIG UP THE WW2 GOLD HIDDEN IN THOSE ALPINE CAVES, AND RELEASE THE FUNDS FROM THOSE WW2 ACCOUNTS THAT ARE STILL STASHED IN CERTAIN SWISS BANKS; 2. MAKE RICOLA, ROLEX, AND THE SWISS CHOCOLATIERS CHIP INTO A BAILOUT FUND.

TheJihyeLee Saudi’s won’t fund this anymore because after all these years they still haven’t learned their lesson. It’s unfortunate that this bank has 570 billion in assets, and if it went down the entire banking system would be in trouble. Why do you think crypto exists. Rhetorical.

I believe your words have helped saved the market ⬆️⬆️

Borrow lol

Flipping Losers LET IT FAIL. We all need to fix this broken system and let it all fall

You can’t just create money forever… we’re gonna have a country go under aren’t we

Mike Wilson must be super bewildered at this turn of events

Needing new money from new investors to pay old investors since there is no money is the definition of a Ponzi scheme. Congratulations, the financial system showing in real time the legalized version of a Ponzi scheme in action when banks lose the public’s money.

The bail out continues Print more money

The Swiss bank was not going to let their flagship bank go under

The contagion begins 🍿

Loans Loans Latest News, Loans Loans Headlines

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