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Request from Credit Suisse to Switzerland’s Central Bank: A Post-2008 Crisis Move

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

Credit Suisse has applied to the Swiss Central Bank for a $53.7 billion loan, the first since the 2008 crisis, analysts told the Russian news agency Novosti.

And analysts at Anderida Financial Group said that Credit Suisse is an important bank in the banking system, so it will not be allowed to go bankrupt.

Yesterday, the Swiss Central Bank and the Swiss financial market supervisor FINMA said that Credit Suisse, whose share price fell by a quarter, meets the capital and liquidity requirements of important banks, and if necessary, the Swiss National Bank (SNB) will provide liquidity in Credit Suisse.

After that, Credit Suisse announced that it would borrow up to 50 billion Swiss francs (about $53.7 billion) from the Swiss central bank.

Credit Suisse will borrow through a liquidity facility, and this unprecedented move is the bank’s biggest so far to support its financial budget.

Source: News

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