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Switzerland: SNB to provide liquidity to Credit Suisse if needed

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Switzerland: SNB to provide liquidity to Credit Suisse if needed

The Swiss National Bank (SNB) said it would provide liquidity to Credit Suisse, Switzerland’s second-largest bank, “if needed.”

Credit Suisse, for its part, declined to comment.

It is recalled that the Swiss bank turned to the SNB for support after its shares fell 24%, setting another negative record.

Credit Suisse sent a similar request to Swiss regulator Finma, the Financial Times reported, citing two people with knowledge of the matter.

It is noted that Credit Suisse announced that it was forced to resort to liquidity reserves to cover the funds that left it.

Since last year, the Swiss bank has been trying to restore the confidence of its customers, investors and regulators, damaged after a series of mistakes.

Source: Reuters.

Author: newsroom

Source: Kathimerini

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