Credit Suisse tells staff SNB facility does not trigger a 'viability' event | Reuters News Agency
Business & Finance

Credit Suisse tells staff SNB facility does not trigger a ‘viability’ event

Documents reviewed by Reuters reveal Credit Suisse Group AG (CSGN.S) told staff on Thursday that the emergency backstop from the Swiss central bank does not trigger a “viability event.” Credit Suisse sought to shore up its liquidity and restore investor confidence on Thursday by borrowing up to $54 billion from Switzerland’s central bank, becoming the first major global bank to tap an emergency lifeline since the financial crisis of 2008. 

Market Impact

The lender has suffered unprecedented outflows of more than $100 billion since October amid a crisis of confidence.



Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & Finance
Regions: Europe
Countries: Switzerland
Win Types: Speed
Story Types: Spot News
Media Types: Text
Customer Impact: Significant National Story
Eikon_3.16.23_credit suisse
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