Credit Suisse shares plummet 30%, hitting new all-time low
The value of Credit Suisse’s securities sharply declined after the bank’s largest investor, the National Bank of Saudi Arabia, refused to provide additional financial assistance.
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The situation with Credit Suisse will have a more serious impact on the stability of the global banking system than the recent collapses of American banks Signature and SVB. The bank is deeply integrated into the global financial market, with several subsidiaries outside Switzerland.
As of the end of 2022, Credit Suisse's balance sheet amounted to $577 billion.
The peril that Credit Suisse faced is prompting the question once more: are we teetering on a brink another global crisis?
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