[1/2] The logo of the Swiss bank Credit Suisse is seen in Zurich, Switzerland March 20, 2023.
While the nation's central bank and financial regulator publicly declared that Credit Suisse was sound, behind closed doors the race was on to rescue the nation's second-biggest bank.
The Swiss National Bank declined to comment while the finance ministry did not respond to a request for comment.
Battered by years of scandals and losses, Credit Suisse for months had been battling a crisis of confidence of its own making.
By Wednesday, two days later, Credit Suisse was swept up in a full-blown crisis.