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Credit Suisse (NYSE:CS) said it would borrow up to 50 billion francs ($54 billion) from the Swiss National Bank’s liquidity facility.
Credit Suisse (CS) also announced Credit Suisse International’s buyout offer some of OpCo’s high-profile debt securities with cash amounts to around 3 billion francs, according to a statement from the Swiss bank.
Credit Suisse CEO Ulrich Koerner said: “These measures represent decisive action to strengthen Credit Suisse as we continue to transform our strategy to deliver value to our customers and other stakeholders. “.
Early Wednesday in an attempt to reassure investors and markets, the Swiss National Bank, the Swiss market watchdog, said Credit Suisse (CS) meets the capital requirements and said SNB it will provide liquidity to Credit Suisse if necessary.
Credit Suisse (CS) shares fell nearly 25% in Switzerland on Wednesday after the bank’s top shareholder ruled out providing more financial assistance to troubled lenders. President of the National Bank of Saudi Arabia Ammar Al Khudairy told Bloomberg that investors no intention inject more capital for banks.
Credit Suisse (CS) ADR up 5.6% in after-hours trading.
