Today, the Swiss federal government will hold a special meeting for Credit Suisse.
It is currently unclear if any decisions will be made, but the Swiss government is reportedly deeming it necessary to hold the meeting in light of the turmoil affecting the country’s second-largest bank.
Investors helped lift Credit Suisse shares today after a 50 billion franc bailout from the Swiss National Bank (SNB).
Yesterday, Credit Suisse shares had their worst session in their history.
To end the panic, Credit Suisse announced that it would ask the Swiss National Bank for a loan of up to 50 billion Swiss francs (50.7 billion euros) to boost its liquidity.
Source: APE-MPE, AFP, Reuters.
Source: Kathimerini
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.