Credit Suisse borrows 50 billion Swiss francs from the central bank

By Le Figaro with AFP

Published on 03/16/2023 at 02:28

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The action of the Swiss bank, in the grip of great difficulties, suffered this Wednesday the worst fall in its history. EDUARDO MUNOZ / REUTERS

Credit Suisse announced on Thursday that it would borrow up to 50 billion Swiss francs (50.6 billion euros) from the Swiss central bank to “to strenghten” the group, whose title collapsed on the stock market. “This additional liquidity will support Credit Suisse’s core businesses and its clients, as Credit Suisse takes the necessary steps to create a simpler, more focused bank that is focused on client needs”the second largest Swiss bank said in a statement.