Credit Suisse to Borrow Over CHF 50 Billion to Bolster Liquidity: What You Need to Know

Credit Suisse is taking decisive action to pre-emptively strengthen its liquidity by intending to exercise its option to borrow from the Swiss National Bank (SNB) up to CHF 50 billion. On Thursday it was announced that Credit Suisse would borrow up to CHF50 billion from the Swiss National Bank (SNB) to bolster liquidity and reassure investors. The bank further added, “This additional liquidity would support."

Credit Suisse will be borrowing up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank (SNB) under a covered loan facility and short-term liquidity. Credit Suisse today announced its intention to access the SNB’s Covered Loan Facility as well as a short-term liquidity facility of up to approximately CHF 50 billion. Credit Suisse is taking decisive action to pre-emptively strengthen its liquidity by intending to exercise its option to borrow from the Swiss National Bank.

(Reuters) -Credit Suisse Group AG said on Thursday it intended to borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank in what it called In a statement, the bank said that the loan was a “decisive action to pre-emptively” bolster its liquidity. Today, Credit Suisse said it is “taking decisive action” to pre-emptively strengthen its liquidity by intending to exercise its option to borrow from the Swiss National Bank.