Swiss National Bank says it will provide Credit Suisse with liquidity if necessary
Publishing timestamp: 2023-03-15 17:53:39
Summary
Swiss regulators have stated that Credit Suisse meets capital and liquidity requirements and that the central bank will step in if necessary. This comes after the bank's stock fell due to the disclosure of a "material weakness" in financial reporting and its biggest backer stating it would not provide additional financing. The regulators also stated that the recent failures of two US regional banks do not pose a direct risk of contagion to Swiss banks. The announcement has calmed fears of a spreading crisis, but concerns over broader bank issues remain.
Sentiment: MIXED
Keywords: citigroup inc, breaking news: europe, business news, deutsche bank ag, investment strategy, banks, credit suisse group ag, breaking news: markets,