Credit Suisse saw $68 billion in first-quarter outflows as it crumbled

Credit Suisse said on Monday 61 billion Swiss francs ($68 billion) left the bank in the first quarter, shedding light on the scale of the bank run that caused the 167-year-old institution to crumble and forced its state-engineered rescue.

said on Monday 61 billion Swiss francs left the bank in the first quarter, shedding light on the scale of the bank run that caused the 167-year-old institution to crumble and forced its state-engineered rescue.The bank reported results for what is likely to be the last time, as its shotgun marriage with rival Swiss bank UBSAssets managed by Credit Suisse's flagship wealth management division dropped to 502.

This led Swiss authorities to scramble together a rescue package that included over 200 billion francs in financial guarantees and saw UBS agree to take over Credit Suisse for 3 billion Swiss francs in stock and assume up to 5 billion francs in losses.

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