Credit Suisse “meets the capital and liquidity requirements imposed on systemically important banks,” said the Swiss central bank.
Following the dramatic plunge in the Credit Suisse share price, Switzerland’s central bank (Swiss National Bank) says they will step in if necessary to provide liquidity.
You can read their statement below:
“Credit Suisse’s stock exchange value and the value of its debt securities have been particularly affected by market reactions in recent days. FINMA is in very close contact with the bank and has access to all information relevant to supervisory law. Against this background, FINMA confirms that Credit Suisse meets the higher capital and liquidity requirements applicable to systemically important banks. In addition, the SNB will provide liquidity to the globally active bank if necessary. FINMA and the SNB are following developments very closely and are in close contact with the Federal Department of Finance to ensure financial stability.”
Stocks rebounded off their lows following the statement.
Spencer Fernando
Photo – YouTube
