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Bailout, bailout bailout! Further backstops and liquidity for Credit Suisse as all roads lead to Bitcoin
Credit Suisse borrowing up to 50 billion CHF from Swiss National Bank bailout as Credit Suisse shares plummeted over 20%.
1 min read
Updated: Mar. 16, 2023 at 8:52 am UTC
Quick Take
- Credit Suisse shares plunged 24%, and its bonds traded at distressed levels.
- Credit Suisse may have reached a point of no return to hold its wealth management clients or fund its activities.
- “Credit Suisse to get liquidity backstop if needed,” according to Bloomberg.
- Credit Suisse borrows up to 50 billion CHF from the Swiss National Bank, equivalent to 6.25% of the Swiss GDP.
