will be issued liquidity if the lender needs it, a Swiss regulator and the country's central bank said late Wednesday, offering some measure of reassurance during market turmoil surrounding the company.
Credit Suisse meets the country's"strict" capital and liquidity requirements imposed on systemically important banks, the Swiss Financial Market Supervisory Authority, or FINMA, and the Swiss National Bank said in a joint statement.
So if governments are going to protect Banks, who are really just a business, why do they not bail out all the other businesses ?
Fascinating mathematics. CS, with a market cap of +/-$7bn, will borrow $54bn from an entity (SNB) that just reported $143bn in losses.
And failing that, the BIS_org can probably drum up a few bil/tril/quadril-ion as required. Devaluation is a small price to pay when weighed against the panic failing to be quelled, isn't it? Or so the thinking seems to go.
Now I am a CS bagholder I hope the Swiss gov is going to help me running out soon and get back my money fully
Basically…
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Credit Suisse intends to borrow up to 50 bln Swiss francs from Swiss National BankCredit Suisse Group AG said on Thursday it intended to borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank in what it called 'decisive action' to boost its liquidity. 50 non Swiss francs is like 30$ us. 100 billion dollar have been withdrawn from this bank and now its name should be changed to debit Swiss😂😂 Credit is broke
Source: Reuters - 🏆 2. / 97 Read more »
Credit Suisse woes knock euro, sterling, Swiss FrancEuropean currencies fell sharply on Wednesday after Credit Suisse's tumble to a new low renewed worries about the European banking sector following Silicon Valley Bank's collapse. these will be affected
Source: Reuters - 🏆 2. / 97 Read more »
Stocks trim losses after report Credit Suisse, Swiss authorities hold talksU.S. stocks trimmed sharp losses Wednesday afternoon following a report that Swiss authorities and Credit Suisse held talks aimed at stabilizing the troubled... Bailout !? If you look at the history of Credit Susie $CS for the last 5 years, it's been tanking for a long time now. Credit Susie was tanking even during the Trump years. Why do people look to Credit Susie as an indicator of how the market is doing? Sounds like it's time for Credit Suisse to start playing the stock market!
Source: MarketWatch - 🏆 3. / 97 Read more »
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 »