Menu
Sister Sites

  • Credit Suisse Group takes decisive action to pre-emptively strengthen liquidity and announces public tender offers for debt securities

    From credit-suisse.com

    Credit Suisse is taking decisive action to pre-emptively strengthen its liquidity by intending to exercise its option to borrow from the Swiss National Bank (SNB) up to CHF 50 billion under a Covered Loan Facility as well as a short-term liquidity facility, which are fully collateralized by high quality assets. Credit Suisse also announces offers by Credit Suisse International to repurchase certain OpCo senior debt securities for cash of up to approximately CHF 3 billion. Credit Suisse announces its intention to access the SNB’s Covered Loan Facility as well as a short-term liquidity facility of up to approximately ... (full story)

Interesting ..the push back from SNB was pretty serious..so glad they moved fast to neutralize..
Despite CS's baggage .. this development has sharply rallied share price.. and helped Euro stoxx Banks rally too. watchlist item.
Warning: A Dangerous Subversive: 1% of comments CoCed
Credit Suisse has been sailing close for a few years now, the SNB had to do something after Saudi dropped support. I guess they'll be taken over by UBS or someone similar within the next few weeks or months. Will this be the end of the banking crises, one wonders. I suspect not!
  • New Comment
  •  Guest
  • | IP XX.XXX.247.152
Join FF
  • Story Stats
  • Posted: Mar 15, 2023 11:20pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 2  /  Views: 1,477