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Search resuls for: "Noele Illien John Revill Tom Sims"


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☆ Swiss central bank throws financial lifeline to Credit Suisse after shares pummelled
  + stars: | 2023-03-15 | by ( Noele Illien John Revill Tom Sims | Noele Illien | John Revill | ) www.reuters.com   time to read: +6 min
March 15 (Reuters) - Swiss regulators pledged a liquidity lifeline to Credit Suisse (CSGN.S) in an unprecedented move by a central bank after the flagship Swiss lender's shares tumbled as much as 30% on Wednesday. They said the bank could access liquidity from the central bank if needed. Credit Suisse said it welcomed the statement of support from the Swiss National Bank and FINMA. Hoping to quell concerns, FINMA and the Swiss central bank said there were no indications of a direct risk of contagion for Swiss institutions from U.S. banking market turmoil. The logo of Swiss bank Credit Suisse is seen in front of an office building in Zurich, Switzerland October 26, 2022.
☆ Swiss central bank ready to pump liquidity into Credit Suisse 'if necessary'
  + stars: | 2023-03-15 | by ( Noele Illien John Revill Tom Sims | Noele Illien | John Revill | ) www.reuters.com   time to read: +2 min
ZURICH/FRANKFURT, March 15 (Reuters) - Swiss financial regulator FINMA and the nation's central bank said on Wednesday that the Swiss National Bank would provide Credit Suisse (CSGN.S) liquidity "if necessary", a first for a global bank since the financial crisis. The two institutions said in a joint statement that Credit Suisse "meets the capital and liquidity requirements imposed on systemically important banks". Governments and at least one bank were putting pressure on Switzerland to act, said people familiar with the matter. Shares in Credit Suisse, which is battling to recover from a string of scandals that have undermined the confidence of investors and clients, lost nearly a quarter of their value on Wednesday. The stock, which was worth around 80 Swiss francs in 2008 plunged to 1.55 Swiss francs on Wednesday.
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