Swiss bank Credit Suisse said it will borrow 50 billion Swiss francs (about $53.7 billion) from the Swiss National Bank (the country’s central bank, SNB). This is reported on the bank’s website.
“Credit Suisse announces its intention to access the SNB Comprehensive Credit Facility and a short-term liquidity facility for a total of CHF 50 billion,” the statement said.
He states that this additional liquidity will support the bank’s core business and customers.
Shares of Credit Suisse fell 24.2% on March 15, falling below two Swiss francs for the first time. Then, the Swiss National Bank (SNB, the country’s central bank) and the Swiss financial regulator (FINMA) expressed readiness Providing assistance to Credit Suisse.
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.