Can Swiss National Bank save Credit Suisse from financial ruin?
The Swiss National Bank has reportedly agreed to extend a secured credit line of $54 billion to Credit Suisse to help it pay off its debts to clients. Additionally, the Swiss regulator is said to be considering the purchase of Credit Suisse’s senior debt securities for $2.5 billion in cash. The collapse of Credit Suisse could have far-reaching consequences, potentially surpassing even those resulting from the recent collapse of Silicon Valley Bank. As such, it appears that a banking apocalypse has been averted, at least for the time being.
On this page
The Swiss National Bank has reportedly agreed to extend a secured credit line of $54 billion to Credit Suisse to help it pay off its debts to clients.
Additionally, the Swiss regulator is said to be considering the purchase of Credit Suisse's senior debt securities for $2.5 billion in cash.
The collapse of Credit Suisse could have far-reaching consequences, potentially surpassing even those resulting from the recent collapse of Silicon Valley Bank. As such, it appears that a banking apocalypse has been averted, at least for the time being.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
