The firm, based in Zurich, called the decision a “decisive action to pre-emptively strengthen its liquidity.”
Investors will be closely watching the reaction when Europe reopens for trading Thursday morning, following another day in markets dominated by concerns that global banking problems may be on the verge of bringing the economic expansion to an end. The firm billed the borrowing and debt tenders as “ decisive action to strengthen Credit Suisse as we continue our strategic transformation to deliver value to our clients and other stakeholders.”
Central banks are so useless.
😬🤔
climate change is not cheap
Wow, I’m astonished their central bank would step in to rescue an investment bank. They obviously can see systemic financial risks
Will it change anything?
But yes, we're ready for the end of the central banks and trust in crypto, sure.
Did the CEO not say—yesterday—that government help was not on the table?
This is going to continually happen, The banking system has stopped backing ' Tangible & Established ' businesses, for narratives and virtual currency. This type of business practice leads to chaos and hurts economic growth.
This simply cannot be true. The Suisse are the best risk managers in the world.
Transitory Yellen says there is nothing to see here.
Some walking around money.
Maybe if these banks would pay more than 0.03% interest on deposits people wouldn't be so quick to take their money out....
Wtf is going on
Why not 54 billion?
Suave
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