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Credit Suisse Stock Price Jumps as Bank Secures $50 Billion Lifeline

Posted on AllSides March 16th, 2023
From The Center
Banking and Finance, Credit Suisse
JOSE CENDON/BLOOMBERG NEWS

Credit Suisse shares jumped after the bank said it would tap a more than $50 billion lifeline from the Swiss National Bank, but analysts remained wary about the lender’s prospects. 

Investor confidence in the Swiss bank deteriorated rapidly this week, after investors turned their attention to the struggling lender following the collapse of two large banks in the U.S. 

The sudden evaporation of support from markets prompted the SNB, Switzerland’s central bank, to offer rescue funds late Wednesday. Credit Suisse called its use of the lending facility a “decisive action to pre-emptively strengthen...

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https://www.wsj.com/articles/credit-suisse-stock-price-jumps-as-bank-secures-50-billion-lifeline-9f5a35b9

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