Credit Suisse intends to borrow up to 50 bln Swiss francs from Swiss National Bank

  • 📰 Reuters
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Credit Suisse Group AG said on Thursday it intended 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.

Referring to the intended borrowing, it said: "This additional liquidity would 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."

Gary Ng, senior economist at Natixis Corporate and Investment Bank, said investors might be worried about Silicon Valley Bank and Credit Suisse for different reasons, but both suffered from the side effect of high-interest rates. The Swiss lender's latest move came after CEO Ulrich Koerner said in an interview earlier on Wednesday that the bank's "capital, our liquidity basis is very very strong."last month reported

The bank, Switzerland's second biggest, has begun a major overhaul of its business, cutting costs and jobs to revive its fortunes, including creating a separate business for its investment bank under the CS First Boston brand. The bank raised 4 billion Swiss francs from investors in December.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Insane!!!

How Swiss National bank which is out of liquidity can lend to Credit Sussie?

Borrow from the Swiss tax payers? And they let this happen? 🤔

but it has 500bn in assets now...so question is how much is impaired. and then discount it by a market in panic frenzy.

100 billion dollar have been withdrawn from this bank and now its name should be changed to debit Swiss😂😂

Credit is broke

50 non Swiss francs is like 30$ us.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 »

Swiss National Bank to provide liquidity to Credit Suisse ‘if necessary’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... Buy the stock. Will be a double move Oh oh. Money never Sleeps
Source: MarketWatch - 🏆 3. / 97 Read more »

Swiss National Bank says it would support credit Suisse if necessaryRegulators stated that the problems experienced by certain U.S. banks do not pose a risk for the Swiss financial system. Banks is always risky $BTC & $KAS regulation friendly ✅ No ICO ✅ Fair launch ✅ No dev allocations ✅ Driven by community ✅ Purely Decentralized (Pow) ✅ Secure ✅ No pre-mining But also Kaspa, ✅ More convenient ✅ Fastest pow (x32 with Rust upgrade) ✅ Most advanced Pow ever oxro dxgm
Source: Cointelegraph - 🏆 562. / 51 Read more »

Credit Suisse to borrow up to about $54 billion from Swiss National BankCredit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility. The contagion begins 🍿 The bail out continues Print more money The Swiss bank was not going to let their flagship bank go under
Source: CNBC - 🏆 12. / 72 Read more »

Credit Suisse to borrow up to nearly $54 billion from Swiss National BankCredit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility. Bailout bonanza ! Shit Let these shit banks burn. There is only one decentralized bank you can trust Bitcoin
Source: CNBC - 🏆 12. / 72 Read more »