April 23, 2024

Credit Suisse is asking for Support from the Swiss National Bank

Credit Suisse, is in desperate need of support according to the Financial Times. Early on Wednesday the bank’s stock slid about 30 percent.

According to the Financial Times;

“Credit Suisse has appealed to the Swiss National Bank for a public show of support after its shares cratered as much as 30 per cent, sparking a broader sell-off in European and US bank stocks.

The request for a reassuring statement about Credit Suisse’s financial health came after its shares sank as low as SFr1.56, having earlier been halted amid a heavy sell-off, according to three people with knowledge of the talks.”


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