The Swiss National Bank said it would provide liquidity to Credit Suisse if needed, but maintained the bank meets capital requirements imposed on “systemically important banks.”
Switzerland’s central bank will provide liquidity to Credit Suisse if necessary, regulators promised Wednesday, after the banking giant’s shares plummeted as concerns about economic contagion mount following the second- and third-biggest bank failures in U.S. history last week.... [+]Wednesday afternoon, adding that the “problems of certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets.
The country’s banking regulator also said Credit Suisse “meets the capital and liquidity requirements” on big banks. Shares of Credit Suisse fell more than 13% Wednesday, closing at $2.16—a slight rebound from its record low of $1.76 Wednesday morning.
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