Credit Suisse's shares soar 30 per cent after announcing it will borrow up to nearly $81 billion from the Swiss central bank.
abc.net.au/news/credit-suisse-shares-soar/102108030Credit Suisse's shares have soared 30 per cent after announcing it will move to shore up its finances by borrowing up to nearly $81 billion from the Swiss central bank.Credit Suisse shares plunged when its biggest shareholder announced it would not be putting more money into the bank
That dragged down other European banks as fears about the banking system expanded overseas following the collapse of some US banks. "This additional liquidity would 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 bank said.WatchCredit Suisse stock slump of 24 per cent sparks fears of global banking crisis
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