Credit Suisse Bank to borrow $54 billion
- Date: 16-Mar-2023
- Source: Al Bawaba
- Sector:Financial Services
- Country:Saudi Arabia
Credit Suisse Bank to borrow $54 billion
ALBAWABA - Troubled Credit Suisse bank intends to borrow billions of dollars from the central bank, in light of fears of a widespread economic crisis as result of the collapse of the American banks, Silicon Valley and Signature.
Credit Suisse announced, in a statement published Thursday, its intention to borrow $54 billion from the Central Bank of Switzerland.
According to the bank, this measure falls within the pre-emptive measures it takes to enhance its cash liquidity.
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