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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.

Flag of Switzerland and Credit Suisse
Flag of Switzerland and Credit Suisse

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.