- Switzerland's central bank has pledged to bankroll Credit Suisse Group AG if necessary.
- Credit Suisse is taking decisive action by borrowing up to $54 billion from the Swiss National Bank.
- The move follows a 30% drop in Credit Suisse's stock price on Wednesday.
- The funding guarantees Credit Suisse's future but does little to address the bank's strategic disarray.
- Credit Suisse has been troubled for years and has been struggling to recover after customers withdrew about $120bn.
Reuters — Business — Finance — Banking — Investment — Regulation
Analysis: Swiss blank cheque wins some time for Credit Suisse
Switzerland's central bank has promised to provide liquidity to Credit Suisse Group AG if necessary, following a 30% drop in the bank's stock price. Credit Suisse is taking decisive action by borrowing up to $54 billion. However, the funding does little to address the bank's strategic disarray after