Wednesday, April 24, 2024

Credit Suisse borrows $54 billion from Swiss central bank amid major concerns

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Image copyright Reuters

Credit Suisse intends to borrow the equivalent of about $54 billion from Switzerland’s central bank.

The troubled bank said it had decided to take “decisive steps” to boost its liquidity.

Swiss regulators said they were ready to support the bank “if necessary” in light of fears of a wider crisis as a result of the collapse of US bank Silicon Valley.

Credit Suisse shares fell a record 24 percent.

Nadia Barnett
Nadia Barnett
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