Credit Suisse on Thursday said it would borrow up to $54 billion from the Swiss central bank to shore up liquidity and investor confidence after a slump in its shares intensified fears about a glob…
The Swiss bank’s announcement helped stem heavy selling in financial markets in Asian morning trade on Thursday, following torrid sessions in EuropeIn its statement early Thursday, Credit Suisse said it would exercise an option to borrow from the central bank up to 54 billion dollars.
“Do bailouts make things better? On the one hand, you are removing a source of risk to the markets which is a clear and present danger. On the other hand we are feeding into this paradigm of monetary policy bucking within itself.” will be made under the covered loan facility and a short-term liquidity facility, fully collateralised by high quality assets. It also announced offers for senior debt securities for cash of up to 3.2 billion dollars.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit Suisse to borrow up to about $54 billion from Swiss National BankCredit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility.
Read more »
Credit Suisse to borrow up to nearly $54 billion from Swiss National BankCredit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility.
Read more »
Credit Suisse to borrow about $54 billion from Swiss central bankCredit Suisse announced late Wednesday it was taking “decisive action” and borrowing up to 50 billion Swiss francs — about $54 billion — to ease investors’ fears.
Read more »
Credit Suisse to borrow up to $54 bln as it seeks to calm investor fearsCredit Suisse on Thursday said it was taking decisive action to strengthen its liquidity by borrowing up to $54 billion from the Swiss central bank after a slump in its shares intensified fears about a broader bank deposit crisis.
Read more »
Credit Suisse to borrow up to $54 billion from Switzerland's central bankCredit Suisse is borrowing from the Swiss National Bank under a covered loan facility.
Read more »
Credit Suisse says outflows have stabilized but not reversedCredit Suisse said customer 'outflows stabilized to much lower levels but had not yet reversed as of the date of this report' in its 2022 annual report published on Tuesday.
Read more »