- Credit Suisse to borrow up to $54bn from Swiss central bank to improve liquidity.
- Shares fell by 24% to a record low, bonds also dropped, and insurance against default spiked.
- Saudi National Bank, Credit Suisse's largest shareholder, said it would not invest further.
- Credit Suisse plans to buy back $3bn in debt.
The New York Times — Business — Credit Suisse — Banking and Financial Institutions — Finances — Credit Suisse Group Ag
Credit Suisse to Borrow as Much as $54 Billion From Swiss Central Bank
Credit Suisse plans to borrow up to $54bn from Swiss central bank after shares dropped to a record low; will also buy back $3bn in debt to avert further damage.