Credit Suisse takes "decisive action to strengthen its liquidity preemptively with the intention of exercising its option to borrow up to 50 billion Swiss francs", approximately 54 billion dollars "from the Swiss central bank" .
This was announced in a press release by the Swiss bank itself, whose share in recent days suffered a collapse on the Zurich Stock Exchange (-24%), dragging down the main markets of the Old Continent , already shaken by the Silicon Valley crash Bank . The crash occurred after the main shareholder, the Saudi National Bank (37% owned by the Saudi Arabian sovereign wealth fund), had ruled out the possibility of providing new financial support.
"This additional liquidity will support Credit Suisse's core businesses and customers , while Credit Suisse will take the necessary steps to create a simpler and more customer-focused bank", reads the bank note, which in addition to strengthening liquidity offers to repurchase approximately 3 billion francs in debt. “These measures show determined action to strengthen Credit Suisse as we continue our strategic transformation to deliver value to our clients and stakeholders,” said Chief Executive Officer, Ulrich Koerner, “My team and I are determined to move forward. quickly for a simpler bank, focused and built on customer needs».
(Unioneonline/F)
