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%.

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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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.
CDS Spreads: Source: Bloomberg)
CDS Spreads: Source: Bloomberg)
Press Release: (Source: Credit Suisse)
Press Release: (Source: Credit Suisse)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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