Credit Suisse will receive a liquidity backstop if needed
witzerland’s central bank and financial regulator said Credit Suisse Group AG will receive a liquidity backstop if needed, in an effort to arrest the slump in confidence around the troubled lender.
Shares in Credit Suisse fell by a record amount Wednesday and its bonds fell to levels that signal deep financial distress, as doubts over the scandal-ridden lender combined with a global selloff in banking stocks. Credit Suisse remains above regulatory capital and liquidity minimums, though it has suffered historic withdrawals by clients nervous over its future direction.
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