Credit Suisse's Future Uncertain Amidst Backing and Regulatory Concerns

Switzerland's central bank has pledged to provide liquidity to Credit Suisse if necessary, in a bid to restore confidence in the bank. The move comes after the bank's stock plunged more than 30% on Wednesday, following months of turmoil. Credit Suisse is in the midst of a major overhaul, cutting costs and jobs and creating a separate business for its investment bank. The Swiss lender would be the first globally systemically important bank to receive a bespoke lifeline, compared with liquidity offered by central banks to the financial sector generally in times of extreme market stress, such as when economies went into lockdown to combat COVID-19.