Credit Suisse to borrow up to $54 billion as it seeks to calm investor fears

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Reuters UK

By Tom Westbrook and David Lawder (Reuters) – Credit Suisse on Thursday said it was taking “decisive action” to strengthen its liquidity by borrowing up to $54 billion from the Swiss central bank after a slump in its shares intensified fears about a broader bank deposit crisis. The Swiss bank’s problems have shifted the focus for investors and regulators from the United States to Europe, where Credit Suisse led a selloff in bank shares after its largest investor said it could not provide more financial assistance because of regulatory constraints. Regulators in the private banking hub on Wedne…

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