Credit Suisse announced it would borrow up to 50 billion Swiss francs from the Swiss National Bank in a move to strengthen its liquidity amid dwindling stock prices.
Credit Suisse also announces today that it is making a cash tender offer in relation to ten US dollar denominated senior debt securities for an aggregate consideration of up to USD 2.5 billion.
Concurrently, Credit Suisse is also announcing a separate cash tender offer in relation to four Euro denominated senior debt securities for an aggregate consideration of up to EUR 500 million.fears that the lender would suffer the same fate as Silicon Valley Bank or Signature Bank.the problems of “certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets.”
“There are no indications of a direct risk of contagion for Swiss institutions due to the current turmoil in the US banking market,” the statement added.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit Suisse intends to borrow up to 50 bln Swiss francs from Swiss National BankCredit Suisse Group AG said on Thursday it intended to borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank in what it called 'decisive action' to boost its liquidity.
Read more »
Swiss National Bank will provide Credit Suisse financial support ‘if necessary’Shares of the Swiss banking giant fell nearly 20 percent in early trading, creating new uncertainty in the wake of Silicon Valley Bank’s collapse.
Read more »
Credit Suisse appeals to Swiss National Bank for show of support - FTCredit Suisse has appealed to the Swiss National Bank (SNB) for a public show of support, the Financial Times reported on Wednesday, after the bank's shares slid as much as 30% and sparked a broader sell-off in European and U.S. bank stocks.
Read more »
Swiss National Bank to provide liquidity to Credit Suisse ‘if necessary’The Swiss National Bank will provide liquidity to troubled lender Credit Suisse if necessary, the central bank said late Wednesday, in a joint statement with...
Read more »
Swiss National Bank says it would support credit Suisse if necessaryRegulators stated that the problems experienced by certain U.S. banks do not pose a risk for the Swiss financial system.
Read more »
Credit Suisse to borrow up to about $54 billion from Swiss National BankCredit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility.
Read more »