The Biden administration on Thursday called recent problems at Credit Suisse a “distinct issue,” and unrelated to “the current economic situation,” after two...
The Biden administration on Thursday called recent problems at Credit Suisse CSGN, +19.15% a “distinct issue,” and unrelated to “the current economic situation,” after two U.S. banks failed last weekend.
White House press secretary Karine Jean-Pierre told reporters that the administration is glad the Swiss central bank gave a reassurance in the form of a loan facility, and noted that the U.S. Treasury is in touch with its Swiss counterparts. As MarketWatch reported, Credit Suisse shares surged Thursday, rallying as the Swiss banking giant said it will tap its central bank for 50 billion francs and launching an offer to buy beaten-up debt.
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Credit Suisse’s plight calls for outside helpThe bank’s stock fell 17% after its top investor said it wouldn’t necessarily buy more shares, citing regulatory barriers. The risk is clients flee. Reassuring words from the Swiss National Bank would help. So would a vote of confidence from a new Warren Buffett-style investor.
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Credit Suisse shares hit record lowCredit Suisse saw its stock sink to a record-low price level Tuesday in the morning, with shares for the bank subsequently being priced around $2.50 by afternoon.
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Credit Suisse chairman took a pass on $1.6 million award, had his pay cutCredit Suisse's chairman took a pass on a $1.6 million award and had his pay cut
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Credit Suisse shares hit record low as banking giant admits to ‘material weaknesses’Credit Suisse shares hit an all-time low in early Tuesday trading after the Swiss banking giant admitted to discovering “material weaknesses” in its financial reporting over the past two years.
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EUR/CHF to trade in a 0.9700-1.0000 range following SNB meeting – Credit SuisseIn light of the recent events in financial markets, economists at Credit Suisse think the SNB will only hike 25 bps at the upcoming meeting. They expe
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