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Credit Suisse shares soar after securing a $54 billion lifeline from Switzerland

Posted on AllSides March 16th, 2023
From The Left
Banking and Finance, Credit Suisse
Arnd Wiegmann/Getty Images

Shares of Credit Suisse jumped Thursday after saying it would borrow up to $54 billion from Switzerland's central bank, an emergency step intended to prop up investor confidence in the troubled European bank.

Credit Suisse shares had plunged on Wednesday, prompting stock markets to fall in the U.S. and around the world, amid rising concerns about the stability of the global banking system after U.S. regulators were forced to rescue Silicon Valley Bank and Signature Bank on Sunday.

Credit Suisse's troubles, however, were distinct from the two collapsed U.S. lenders....

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