ZURICH, March 17 — Credit Suisse rallied on the stock market yesterday after grabbing a US$54 billion (RM243.2 billion) central bank lifeline in a bid to restore investor...
ZURICH, March 17 — Credit Suisse rallied on the stock market yesterday after grabbing a US$54 billion central bank lifeline in a bid to restore investor confidence but analysts remain wary about the major lender’s future.
Hours before the stock exchange reopened, Credit Suisse announced it would borrow 50 billion francs from the SNB to reinforce the group.“These measures demonstrate decisive action to strengthen Credit Suisse as we continue our strategic transformation,” chief executive Ulrich Koerner said in a statement.
These banks, dubbed too big to fail, are required to set aside additional cash to withstand shocks in the event of market turbulence. Credit Suisse plans to separate its investment banking arm from the rest of its activities, and refocus on wealth management, asset management and on its Swiss domestic banking.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit Suisse says key liquidity measure did not change the week SVB fellNEW YORK, March 17 — Credit Suisse Group AG’s average liquidity coverage ratio, a measure of how much cash-like assets the bank has, did not change between March 8 and March...
Read more »
Wall Street down as Credit Suisse sparks fresh bank selloffNEW YORK, March 16 ― US stocks pared losses late yesterday but the Dow and S&P 500 still closed lower, as problems at Credit Suisse revived fears of a banking crisis,...
Read more »
European shares rise as investors cheer Credit Suisse securing lifeline, ECB in focusBRUSSELS, March 16 — European shares rose today, as beleaguered lender Credit Suisse rallied after a lifeline from the Swiss National Bank allayed some fears of a global banking...
Read more »
Credit Suisse capital, liquidity adequate, says Swiss central bankZURICH, March 16 ― The Swiss central bank said yesterday that capital and liquidity levels at embattled Credit Suisse were adequate but stressed it was ready to make liquidity...
Read more »
Credit Suisse capital, liquidity adequate, says Swiss central bankZURICH, March 16 ― The Swiss central bank said yesterday that capital and liquidity levels at embattled Credit Suisse were adequate but stressed it was ready to make liquidity...
Read more »
Large US banks view Credit Suisse exposure as manageableCredit Suisse shares plunged by as much as 30.8% earlier on Wednesday, leading a 7% drop in the European banking index theSun theSundaily CreditSuisse business Economy EuropeanUnion
Read more »