SNB to lend up to $54 billion to Credit Suisse

Swiss central bank and supervisory authority say bank meets capital requirements

Swiss National Bank

Credit Suisse will borrow up to Sfr50 billion ($54 billion) from the Swiss National Bank, it said today (March 16).

The decision came a day after the bank’s share price fell by as much as 30% on March 15. Credit Suisse’s losses were the biggest in the European banking sector. French lender BNP Paribas and Societe Generale lost 10%, and Germany’s Deutsche Bank 8%.

The market decline came after the Swiss lender’s biggest shareholder, the Saudi National Bank, ruled out financial assistance. “The

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.