Loan Disbursement under the Fund-Provisioning Measure to Stimulate Bank Lending (March 2023)

tweet at 8:49pm: CREDIT SUISSE WILL BORROW UP TO 50BLN SWISS FRANCS FROM THE SWISS NATIONAL BANK. tweet at 8:49pm: CREDIT SUISSE - TAKING DECISIVE ACTION TO PRE-EMPTIVELY STRENGTHEN ITS LIQUIDITY BY INTENDING TO EXERCISE ITS OPTION TO BORROW FROM SNB UP TO CHF 50 BLN UNDER A COVERED LOAN FACILITY AS WELL AS A SHORT-TERM LIQUIDITY FACILITY tweet at 9:02pm: FTSE FUTURES JUMP 1%; EUROSTOXX FUTURES UP 1.5% AFTER CREDIT SUISSE ANNOUNCES BORROWING FROM SNBCredit Suisse to borrow up to about $54 billion from Swiss National Bank Credit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility. The steps will “support Credit Suisse’s core businesses and clients as Credit Suisse takes the necessary steps to create a simpler and more focused bank built around client needs,” the company said in an announcement. In addition, the bank is making a cash tender offer in relation to ten U.S. dollar denominated senior debt securities for an aggregate consideration of up to $2.5 billion – as well as a separate offer to four Euro denominated senior debt securities for up to an aggregate 500 million euros, the company said.