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Credit Suisse to borrow $54bn from Swiss Central Bank after share price slump

The bank said that is 'taking decisive action to pre-emptively strengthen its liquidity'

By Paul Clarke
On 14 March, Credit Suisse Körner asked for patience on the turnaround and reiterated that the bank's financial position was sound
On 14 March, Credit Suisse Körner asked for patience on the turnaround and reiterated that the bank's financial position was sound Photo: AFP via Getty Images

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Credit Suisse will borrow up to CHF50bn ($54bn) from the Swiss Central Bank and plans to buy back CHF3bn of its own debt in an attempt to shore up confidence after a day when its stock plunged 30%.

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