:At least four major banks, including Societe Generale SA and Deutsche Bank AG, have put restrictions on their trades involving Credit Suisse Group AG or its securities, according to five sources with direct knowledge of the matter.
The cautious stance adopted by Credit Suisse’s rivals, details of which have not been reported before, comes after the Swiss central bank threw a lifeline to the lender after its shares were pummeled in the aftermath of the U.S. banking crisis this week. The curbs add to the bank’s problems as it tries to restructure operations and find its footing after a series of costly scandals.
Societe Generale has maintained existing counterparty positions with Credit Suisse, which it had cut back in recent weeks, but it is not increasing them, according to two sources with direct knowledge of the situation.
Credit Suisse said on Thursday it intended to borrow up to 50 billion Swiss francs from the Swiss National Bank in what it called"decisive action" to boost its liquidity.
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