Saturday, February 24, 2024

Credit Suisse, a loan from the Central Bank of up to 54 billion – last hour

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(ANSA) – New York, March 15 – Credit Suisse takes action “has decided to boost liquidity in advance with the intent of exercising its option to borrow up to CHF50 billion”, about $54 billion “from the Swiss central bank”. Credit Suisse said this in a note. “This additional liquidity will support the core business of Credit Suisse’s clients as Credit Suisse takes the necessary steps to create a simpler and more customer-centric bank,” says Credit Suisse, which in addition to boosting liquidity is offering debt buybacks for around CHF3 billion.

“These actions demonstrate critical actions to strengthen Credit Suisse as we continue our strategic transformation to deliver value to our clients and stakeholders,” said Ulrich Korner, CEO of Credit Suisse. Bank, focus and build on customer needs.”

In announcing its moves to boost liquidity, Credit Suisse says it is “conservative against interest rate risk”. (handle).

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