The Swiss central bank is ready to provide capital to Credit Suisse

The value of the shares of the Swiss bank Kredi Suis recorded the biggest drop in its history and ended the trading day with a loss of 24,24 percent of its value.

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Photo: Reuters
Photo: Reuters
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

The Swiss central bank and financial markets regulator said today that Credit Suisse, whose share value fell by almost a quarter today, meets capital and liquidity requirements and can access liquidity "in case of need".

"Credit Suisse meets the capital and liquidity requirements imposed on banks of systemic importance. If necessary, the Swiss National Bank will make liquidity available to Credit Suisse," the Swiss central bank and the regulatory body (Finma) stated in a joint statement.

They announced this after a whole day of silence, during which the value of the shares of the Swiss bank Kredi Suisa recorded the biggest drop in its history and ended the stock market day losing 24,24 percent of its value.

Panic arose when the bank's largest shareholder, the Saudi National Bank, stated that it could not provide the bank with more financial assistance and increase its share of 10 percent. The markets are nervous after the collapse of the American bank SVB, and fears that it may spread to other banks and countries.

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