Credit Suisse's Future Uncertain Amidst Global Banking Turmoil.

Credit Suisse has borrowed up to $54bn from Switzerland's central bank to shore up its liquidity and restore investor confidence, becoming the first major global bank to be thrown an emergency lifeline since the 2008 financial crisis. However, the move has only offered limited respite to global banking stocks, with major US bank shares slipping between 1% and 1.5% in early trading on Thursday. The European Central Bank raised interest rates by 50 basis points on Thursday, stressing the resilience of the euro area banking sector while assuring it had plenty of tools to offer liquidity support if needed.