Credit Suisse shares soar over 18% on Swiss National Bank loan announcement
Publishing timestamp: 2023-03-16 12:45:30
Summary
Credit Suisse shares rose over 30% after announcing that it will borrow up to $54 billion from Swiss National Bank. The bank also offered to buy back around 3 billion francs' worth of debt. The Swiss National Bank and Swiss Financial Market Supervisory Authority confirmed that Credit Suisse meets capital and liquidity requirements imposed on systemically important banks. The move comes after shares of Credit Suisse plunged to a fresh all-time low on Wednesday when top investor Saudi National Bank said it would not pump in any more cash due to regulatory restrictions.
Sentiment: NEUTRAL
Keywords: banks, business news, breaking news: europe, credit suisse group ag, financials, switzerland,