- Credit Suisse secures CHF 50 billion line of credit from Swiss National Bank to strengthen liquidity.
- Credit Suisse offering to buy back bonds at a discount, saving $70 million.
- Bank's credit instruments continue to look worrying as counterparties avoid exposure.
- SNB and FINMA confirm that Credit Suisse meets capital and liquidity requirements.
- Credit Suisse's main goal is to convince funding markets that everything is fine.
Credit Suisse Puts On a Brave Face
Credit Suisse secures CHF 50bn line of credit from Swiss National Bank and offers to buy back bonds at a discount amid market concerns over bank's liquidity.