The Swiss National Bank (SNB, the country’s central bank) and Swiss financial regulator (FINMA) are ready to provide assistance to Credit Suisse bank, whose shares collapsed. It has been reported TASSReferring to SNB’s description.
He says the Swiss National Bank and FINMA will “provide liquidity to Credit Suisse” if needed.
“The problems of some banks in the US do not pose a direct risk to the Swiss financial markets,” the SNB said.
They explained that “strict capital and liquidity requirements for Swiss financial institutions ensure their stability”.
“Credit Suisse fulfills the capital and liquidity requirements of systemically important banks,” the statement said.
According to SNB and FINMA, this bank’s stock market value and the value of its debt securities have suffered significantly from the market reaction to the bankruptcy of the American Silicon Valley Bank.
Shares of Credit Suisse fell nearly 24.2% on March 15, falling below two Swiss francs for the first time.
Robert Kiyosaki, formerly American investor, finance columnist, and bestselling author of Rich Dad Poor Dad declarationThat Credit Suisse will go bankrupt soon after the bankruptcy of American Silicon Valley Bank (SVB).
Credit Suisse is the second largest bank in Switzerland and one of the oldest in Europe.