Watch Credit Suisse to Borrow Around $54 Billion From Swiss National Bank News Video
“Shares of Credit Suisse jumped Thursday after saying it would borrow up to $54 billion from Switzerland’s central bank, an emergency step intended to prop up investor confidence in the troubled European bank.
“Credit Suisse shares had plunged on Wednesday, prompting stock markets to fall in the U.S. and around the world, amid rising concerns about the stability of the global banking system after U.S. regulators were forced to rescue Silicon Valley Bank and Signature Bank on Sunday.
“Credit Suisse’s troubles, however, were distinct from the two collapsed U.S. lenders. The European bank had already been reeling after a succession of scandals and poor decisions that several CEOs have failed to address over several years.”
Read more at NPR