Swiss Banking Crisis: Credit Suisse's Liquidity Access and UBS's Wealth Management Risk.
Originally Published 2 years ago — by Reuters
Credit Suisse accessed a large multi-billion amount from the Swiss National Bank last weekend to secure its liquidity due to customers withdrawing money and counterparties demanding guarantees when doing business with the bank. The exact figure is unknown, but it is assumed to be above 50 billion Swiss francs. The situation has since stabilized.