actions Credit Suisse Rebounded strongly by 32.59% to 2.25 Swiss francs after learning that the organization had applied to the Swiss National Bank (BNS) to increase its liquidity by 50,000 million francs (about 50,750 million euros at the exchange rate). Switzerland’s second largest bank It corrected sharply in Wednesday’s session, losing 24.11% at the close after falling more than 30% and touching a record low of 1.55 Swiss francs.
Credit Suisse sought support from the central bank yesterday afternoon, and later the SNB and the Swiss Financial Markets Supervisory Authority (FINMA) issued a joint statement. offered to support the liquidity of the bank if necessary. In the document, they emphasized compliance with capital and liquidity requirements applied to systemically important banks.
In this way, Credit Suisse confirmed its intention to borrow up to 50,000 million francs (approximately 50,750 million euros) from BNS to preemptively strengthen its liquidity prior to the opening of markets in the Old Continent. Launching an offer to repurchase certain senior debt securities through Credit Suisse International for an amount of up to about 3,000 million francs (3,045 million euros).
deadlock trigger
Similarly, Saudi National Bank Chairman Ammar Al Khudairy, whose remarks were taken yesterday as the trigger for the collapse of Credit Suisse shares, said in an interview with CNBC that the Arab bank is not considering increasing its investment in Switzerland. presence, He argued that these were “excuses”because that’s the same message he’s been delivering since last October.
“Unfortunately, a lot of people were looking for excuses,” said Al Khudairy. “It’s a panic, a bit of a panic. I think it’s totally unfair, neither for Credit Suisse nor for the entire market,” he added. Likewise, Al Hudairy, the Arab presence very optimistic about the implementation of the (restructuring) plan From Credit Suisse points out that this is a great franchise.
Spanish banking, risk free
Major Spanish banks including Santander, BBVA, CaixaBank and Bankinter have confirmed this. No or negligible exposure to Credit Suisse. The European Central Bank (ECB) contacted European banks it directly oversees yesterday to find out their exposure to Credit Suisse. In the case of Spain, the Bank of Spain was authorized. This decision was made as a result of fears from the collapse of ‘crypto’ banks Signature and Silvergate in the United States on Friday, primarily the collapse of Silicon Valley Bank.