The deal follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics.
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Developments in this update
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Credit Suisse to Borrow Up to Nearly $54 Billion From Swiss National Bank
Headline from NBC10 Philadelphia ·
Near ‘cliff’s edge,’ Credit Suisse not seen as systemic risk
Headline from WTOP Washington DC ·
Names this update
UBS to buy Credit Suisse for $3.2 billion to rein in turmoil
Headline from WTOL Toledo ·
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Jobs at risk after UBS takeover of Credit Suisse, as markets grow calmer – business live
Credit 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.
Credit Suisse announced Thursday that it would borrow almost $54 billion from the Swiss central bank to reinforce the group after a plunge in its share
Swiss bank Credit Suisse said Thursday it will move to shore up its finances, borrowing up to $54 billion from the central bank after its shares plunged, dragging down other major European lenders in…
Shares of European financial services giant Credit Suisse jumped 30% when markets opened on Thursday on the news that the bank will borrow $54 billion from the Swiss National Bank.
The Swiss lender had ended Wednesday fighting for its life, with shares at a record low and the cost to insure against a default the highest ever. The loan is an effort to avert further damage.
Swiss National Bank indicated in a statement Wednesday with the Swiss Financial Market Supervisory Authority it would step in to back Credit Suisse if necessary.
Credit Suisse shares soared more than 30% on Thursday morning, after the bank announced that it will borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. The embattled Swiss lender announced late on Wednesday that it would exercise its option to borrow from the central ba…
After largest shareholder was unable to provide backing, Europe’s 17th largest lender says it will use government help to become ‘simpler and more focused’
Credit Suisse shares surged after the Swiss central bank agreed to loan the bank up to 50 billion francs ($54 billion) to bolster confidence in the country's second-biggest lender following the collapse of two U.S. banks.
Credit Suisse’s shares have soared 30% after it announced it will move to shore up its finances by borrowing up to nearly $54 billion from the Swiss central bank. It’s
GENEVA (AP) — Credit Suisse shares surged Thursday after the Swiss central bank agreed to loan the bank up to 50 billion francs ($54 billion) to bolster confidence in the country’s second-biggest…
The move to borrow from the Swiss National Bank makes Credit Suisse the first major global bank to be extended such a lifeline since the 2008 global financial crisis.
Credit 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. The steps will “support Credit Suisse’s core businesses and clients as Credit Suisse takes the necessary steps t…
Longtime troubles at Credit Suisse came to a head this week with a record stock plunge that spread fears of a banking crisis jumping from the U.S. to Europe. But the problems have been building for years at Switzerland’s second-largest bank, ranging from bad bets on hedge funds to a spying scandal i…
