Swiss authorities and Credit Suisse Group AG are discussing ways to stabilize the bank, Bloomberg reported on Wednesday, citing people familiar with the matter.
Credit Suisse leaders and government officials have talked about options that range from a public statement of support to a potential liquidity backstop,Other suggested potential moves for Credit Suisse could be a potential separation of their Swiss unit and a tie-up with their larger Swiss competitor, UBS Group AG
Switzerland is under pressure from at least one major government to intervene quickly on Credit Suisse, a source familiar with the situationCredit Suisse shares dropped by as much as 30.8%, leading a 7% fall in the European banking index .SX7P, while five-year credit default swaps for the flagship Swiss bank hit a new record high, reviving fears of a broader threat to the financial system.
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