A branch of Swiss banking giant Credit Suisse looks out of the window in the rain, Basel. (Photo: FABRICE COFFRINI/AFP) (Photo: FABRICE COFFRINI/AFP via Getty Images)
Fabrice Coferini | AFP | Getty Images
credit suisse The bank announced that it would Borrowing up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank.
The troubled Swiss lender announced late on Wednesday that it would exercise its option to borrow from the central bank under a secured loan facility and a short-term liquidity facility.
SNB and FINMA said in a statement on Wednesday Credit Suisse “meets the capital and liquidity requirements imposed on systemically important banks”.
shares credit suisse fell to an all-time low For the second day in a row on Wednesday, the National Bank of Saudi Arabia, the largest investor, said it would no longer be able to provide cash to it due to regulatory restrictions.
This is a developing story and will be updated soon.