Credit Suisse shares soar 30% after Swiss National Bank loan announcement

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.

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