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The Street
The Street
By Luc Olinga The bank will borrow nearly $54 billion from the Swiss central bank (SNB) to bolster its liquidity. Credit Suisse shares rebounded nearly 23%. It was urgent to act in order to avoid disaster. Four days after U.S. regulators unveiled an emergency plan to avert contagion from the collapse of Silicon Valley Bank, Europe has found itself in turn with a huge headache threatening to shake its financial system. Credit Suisse, a former European banking flagship, which has been involved in almost every scandal affecting the banking world over the past three years was on the brink, assaile…
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