Credit Suisse's Market Impact and Challenges.
TL;DR Summary
European markets were up as the Swiss National Bank announced it would provide a liquidity backstop to Credit Suisse, which saw its shares soar by as much as 30%. The pan-European Stoxx 600 index was up 0.4% in morning trade, with gains led by a rally in bank stocks, which were up 1.3%. Credit Suisse announced it will borrow up to $54bn from the Swiss central bank under a covered loan facility and a short-term liquidity facility.
Topics:business#bank-stocks#credit-suisse#european-markets#finance#liquidity-backstop#swiss-national-bank
- European markets higher; bank stocks up 1.3% as Credit Suisse soars CNBC
- Nouriel Roubini on Credit Suisse Crisis, Inflation, Strategy Bloomberg Television
- Credit Suisse to borrow up to nearly $54 billion from Swiss National Bank CNBC
- Credit Suisse: It Must Stem Outflows From Rich Asians Bloomberg
- Opinion | Regulators must stop Credit Suisse from spiraling out of control The Washington Post
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