News Formal

Credit Suisse's $50 billion lifeline calms bank panic | CNN Business

  • 📰 CNN
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

Credit Suisse said it would borrow more than $50 billion from the Swiss National Bank, taking advantage of a lifeline offered by the central bank and calming panicked investors.

An overnight scramble to shore up confidence in Credit Suisse calmed panicked investors on Thursday with shares in Switzerland’s second-biggest bank shooting higher in early trade. Credit Suisse said it would borrow up to 50 billion Swiss francs from the Swiss National Bank, taking advantage of a lifeline offered by the central bank late Wednesday after its stock closed down 24%. It also said it would buy back some of its own debt.

25 Swiss francs . Two years ago they were worth more than 11 francs apiece, but a series of scandals, missteps and compliance failures have steadily eroded the bank’s business and undermined the confidence of investors and clients. Customers withdrew 123 billion Swiss francs from Credit Suisse last year — mostly in the fourth quarter — and the bank reported in February an annual net loss of nearly 7.3 billion Swiss francs , its biggest since the global financial crisis in 2008.

Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 4. in RU
 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки

More bad government bull 💩. Causing bank fails . Communist/fascist are destroying the free world and all these people don’t see it what a joke

Getting more loans from the bank won't sort the issues on ground, if not well executed.

I don’t think investors are calm at all.

Thats the clearest sign that Credit Suisse is in very serious trouble

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Credit Suisse finds 'material weakness' in its financial reporting, scraps exec bonuses | CNN BusinessCredit Suisse on Tuesday acknowledged 'material weakness' in its financial reporting as it scrapped bonuses for top executives in the wake of its worst annual performance since the global financial crisis. Beauty of modern finance - a new sophisticated word for every 💩 like fraud, collusion etc😅
Источник: cnni - 🏆 326. / 59 Прочитайте больше »

Flair launches $50-million lawsuit against leasing companies after plane seizuresMONTREAL — Flair Airlines has filed a $50\u002Dmillion lawsuit against several plane\u002Dleasing companies over the “unlawful” seizure of four of its aircraft last…
Источник: TheStarPhoenix - 🏆 253. / 63 Прочитайте больше »