Switzerland’s Central Bank rescues troubled Credit Suisse
Credit Suisse will be bailed out by the Central Bank of Switzerland in order to persuade investors that the business has enough cash to survive.
After a more than 24% decline in the company’s stock price, Credit Suisse will borrow $81 billion from the Swiss Central Bank.
The failure of US lenders Silicon Valley Bank and Signature Bank over the weekend, which resulted in a US government bailout, increased financial worries throughout the world including banks in Europe
READ MORE ON THIS STORY HERE: https://www.skynews.com.au/world-news/global-affairs/central-bank-of-switzerland-to-bail-out-credit-suisse/video/7315d8896b6826f98307e3c450781175
Share this article
Back to Eureka Free Press home