ZURICH: Credit Suisse announced Thursday that it would borrow almost US$54 billion from the Swiss central bank to reinforce the group after a plunge in its share prices.
The disclosure came just hours after the Swiss National Bank said capital and liquidity levels at the lender were adequate for a “systemically important bank”, even as it pledged to make liquidity available if needed.
In a statement, Credit Suisse said the central bank loan of up to 50 billion francs ($53.7 billion) would “support… core businesses and clients”, adding it was also making buyback offers on about $3 billion worth of debt.
“These…
