Stock Market

Credit Suisse Seeks Swiss National Bank's Support Amid Share Slump

Credit Suisse has turned to the Swiss National Bank (SNB) in search of a public endorsement, as reported by the Financial Times. The appeal comes after the bank's shares experienced a significant 30% drop, leading to a wider sell-off in both European and U.S. bank stocks.

, and Uzay Erol

March 15, 2023 . 5:07 PM

1 min read

Pursuing Finma's Similar Support

In addition to the SNB, Credit Suisse has also requested a comparable show of support from Swiss regulator Finma, according to the Financial Times report. The information was provided by two sources familiar with the situation.

LATEST: Credit Suisse has requested a public show of support from the Swiss National Bank, according to the Financial Times.
— Paryte (@Parytecom) March 15, 2023