- Credit Suisse plans to borrow up to CHF 50 billion from the Swiss National Bank to boost its liquidity.
- The move came after Swiss regulators pledged a liquidity lifeline to Credit Suisse.
- Credit Suisse has a Common Equity Tier 1 capital ratio of 14.1% and average liquidity coverage ratio (LCR) of 144%.
- The bank has begun a major overhaul of its business, including creating a separate business for its investment bank under the CS First Boston brand.
- Credit Suisse has accelerated cost cuts and is well on track to deliver 2.5 billion francs of cost-base reductions by 2025.
Credit Suisse intends to borrow up to 50 bln Swiss francs from Swiss National Bank
Credit Suisse Group AG said on Thursday it intended to borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank in what it called "decisive action" to boost its liquidity.
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