The statement, put out by the Swiss Financial Market Supervisory Authority and the Swiss National Bank, came after the megabank hemorrhaged value, raising fears that the fallout from Silicon Valley Bank’s collapse is spreading through the global financial system.
Credit Suisse incurred massive losses after the chairman of the bank’s biggest shareholder announced it would not be increasing its stake.Credit Suisse is considered a global systemically important bank and reported roughly $570 billion in assets at the end of 2022, though it has seen outflows in recent days as the markets have doubted its strength.
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Credit Suisse to borrow up to $54 billion from Switzerland's central bankCredit Suisse is borrowing from the Swiss National Bank under a covered loan facility. I’d email you but I don’t want to be fired Switzerland should have a decent banking emergency fund given all the shady 💰 they've kept over the decades. Then again they could be in the can't-happen here-camp. Ben Montgomery. What about Ben Montgomery?
Source: axios - 🏆 302. / 63 Read more »
Credit Suisse shares hit record low as banking giant admits to ‘material weaknesses’Credit Suisse shares hit an all-time low in early Tuesday trading after the Swiss banking giant admitted to discovering “material weaknesses” in its financial reporting over the past two years.
Source: nypost - 🏆 91. / 67 Read more »
Credit Suisse shares tumble to new record low as European banking sector reelsSwiss banking giant Credit Suisse on Wednesday saw its shares fall to a new record low, pressuring the broader market and the rest of the European banking...
Source: MarketWatch - 🏆 3. / 97 Read more »
Gold bounces back as Credit Suisse compounds banking woesGold reversed course and rose on Wednesday, as a tumble in Credit Suisse shares rekindled fears about the banking sector and hammered appetite for riskier assets. 😈esperemos a que más ciudadanos quieran comprar …metales para no devaluar el fiduciario colombiano 💵💸💵💸💵💸💵💸💵💸💵💸💵💸💸💸💵💸💵💸💸💸💸💸💵💸💵💸💵💸💵💸💵💵💵💸💸 With Trump your dollar was gold
Source: Reuters - 🏆 2. / 97 Read more »
Stock Market Today: Dow down over 400 points as Credit Suisse drop renews banking fearsTreasury yields plunge as market factors in Fed interest-rate cuts by year-end Cuts… 😂 the system is broken. They need to hike but the banking system can’t handle it so now they panic and go back down? Fens sinking their fangs If this happens, we're going to see ridiculous inflation that would make us wish we had just $10 eggs...
Source: MarketWatch - 🏆 3. / 97 Read more »
Credit Suisse Shares Crash as Banking Crisis Goes GlobalShares of Swiss banking giant Credit Suisse fell by more than 20 percent and the cost of insuring its bonds against default soared on Wednesday after its biggest shareholder said it would “absolutely not” provide additional support. So, you're saying it's time to buy Credit Suisse? Trump owes them a LOT of money Dems spent money like drunken sailors during Covid, now we have run away inflation, fed raises rates to control inflation “not Dems spending”, now high rates stress banks and the poorly run ones fail. It’s all foreseeable
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