Credit Suisse to borrow up to $54bn from Swiss central bank

Credit Suisse plans to borrow up to $54bn from Swiss central bank and buy back $2.5bn of US-dollar-denominated debt and €500m of euro-denominated debt to boost liquidity and calm investors after a 30% fall in the bank's shares. CEO Körner's restructuring includes selling off part of the investment b

March 16, 2023 . 9:08 AM

1 min read

Credit Suisse to borrow up to $54bn from Swiss central bank to boost liquidity.
Move follows a 30% fall in the bank's shares and a liquidity backstop offer from the Swiss central bank.
Credit Suisse plans to buy back $2.5bn of US-dollar-denominated debt and €500m of euro-denominated debt.
CEO Körner's restructuring includes selling off part of the investment bank and cutting thousands of jobs.
Shares in the bank are down 39% this year and 85% over the past two years.