, Credit Suisse said it was taking this action to “pre-emptively strengthen its liquidity” and the funds were being borrowed from the Swiss central bank under its covered loan facility and a short-term liquidity facility.it was ready to provide Credit Suisse with liquidity “if necessary,” while adding that the bank met all “capital and liquidity requirements imposed on systemically important banks.
In an effort to lower interest expense, Credit Suisse also announced it will open an offer to buy back debt securities worth around $3 billion—including 10 U.S. dollar bonds worth $2.5 billion and four Euro bonds worth $530 million . The bank’s CEO Ulrich Koerner said the bank was taking “decisive action” as it continues with its strategic transformation plan to “deliver a simpler and more focused bank built around client needs.”The Zurich-based lender, which has been battling a multitude of crises, saw its stock tumble to a record low on Wednesday, ending the day more than 24% in the red.
It happens my friend
i wonder how someone “borrows” more than 50 billions!!!!
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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 »
Credit Suisse to borrow about $54 billion from Swiss central bankCredit Suisse announced late Wednesday it was taking “decisive action” and borrowing up to 50 billion Swiss francs — about $54 billion — to ease investors’ fears. Hmm, I don't know if this would ease my fears or make them worse. Should've just told them to calm down Guess who gets to pay it all back
Source: MarketWatch - 🏆 3. / 97 Read more »
Credit Suisse to borrow up to $54 bln as it seeks to calm investor fearsCredit Suisse on Thursday said it was taking decisive action to strengthen its liquidity by borrowing up to $54 billion from the Swiss central bank after a slump in its shares intensified fears about a broader bank deposit crisis. Deploying more capital Steady Lads. Switzerland abandoned its permanent neutrality, froze and confiscated Russian assets, and lost international credibility. It is no longer safe to park money in Swiss banks. Ooh I means credit suisse going bankrupt guys. Gg.
Source: Reuters - 🏆 2. / 97 Read more »
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 secures $54 billion lifeline as authorities rush to prevent global bank crisisCredit Suisse on Thursday said it would borrow up to $54 billion from the Swiss central bank to shore up liquidity and investor confidence after a slump in its shares intensified fears about a glob… Just maybe modern globalist policies aren’t good Did America pay it? jinxidoru this is what I mean. It’s the banks. They gamble with money and it was perfectly fine under the Dodd-Frank act. Now everyone is paying close attention.
Source: nypost - 🏆 91. / 67 Read more »