After its shares fell, Credit Suisse said it would borrow up to $54 billion from Switzerland’s central bank to boost liquidity and investor confidence. The bank’s announcement in the middle of the night in Zurich boosted Credit Suisse shares 24% and helped reverse some of the stock market losses caused by investor fears of global Read More…
Tag: Credit Suisse
Credit Suisse scandals prompt Switzerland to think unthinkable: punish bankers
Exasperation with Credit Suisse following a string of scandals is prompting Switzerland to rethink a system in which top bankers have been largely untouchable. Credit Suisse’s heavy losses from the collapse of family office Archegos and the decimation of billions of client investments backed by insolvent British financier Greensill have angered regulators and triggered a Read More…