From Swiss bank loan to debt securities offers, Credit Suisse's plan to infuse liquidity3 min read 16 Mar 2023, 06:41 PM IST
This additional support from SNB is likely to support Credit Suisse’s core businesses and clients as the company takes the necessary steps to create a simpler and more focused bank built around client needs.
Embattled Swiss bank Credit Suisse gained some market confidence on Thursday after it took decisive action to pre-emptively strengthen its liquidity problems. Investors saw it as a lifeline and started to once again park their money in Credit Suisse which corrected drastically earlier this week. The Switzerland-based financial service provider's rescue plan is a mixture of loans from the Swiss National Bank and public tender offers of debt securities.