Credit Suisse intervention avoided 'financial crisis,' Swiss National Bank chairman says
Publishing timestamp: 2023-11-02 01:56:53
Summary
The Swiss National Bank injected 168 billion Swiss francs in emergency liquidity to support Credit Suisse after a collapse in confidence and massive customer outflows. This intervention helped avoid a financial crisis and facilitated Credit Suisse's emergency sale to UBS. However, there were criticisms and legal challenges regarding the handling of the takeover.
Sentiment: MIXED
Keywords: ubs group ag, business news, banks, central banking,
Source: https://www.cnbc.com/2023/11/01/snb-says-credit-suisse-intervention-avoided-financial-crisis.html