Credit Suisse to borrow €50 billion from Swiss central bank after share price plunge

CREDIT SUISSE IS planning to borrow up to 50 billion Swiss francs from Switzerland’s central bank in a bid to boost its liquidity and calm investors a day after the bank’s share price plummeted.

That fanned new fears about the health of financial institutions following the recent collapse of Silicon Valley Bank and Signature Bank in the US. A statement from the bank did not specify whether the support would come in the form of cash or loans or other assistance. Regulators said they believe the bank has enough money to meet its obligations at the moment.

The stock has suffered a long, sustained decline: in 2007, the bank’s shares traded at more than 80 Swiss francs each.

Just alot of money shifting band aids, it won't stop the crash. It's coming and it's not going to be pretty

They can’t let this one fail. Lots of “prominent” and “honest” people have their hard earned savings in there. 😉

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