Credit Suisse Secures $54 Billion Lifeline to Soothe Investor Concerns

Credit Suisse announced on Thursday that it would borrow up to $54 billion from the Swiss central bank to stabilize its liquidity amid growing fears of a widespread banking crisis. The Swiss bank’s troubles have shifted investor and regulatory attention from the United States to Europe, where Credit Suisse triggered a sharp selloff in bank […]

Switzerland’s Covert Credit Suisse Rescue Shakes Global Finance

Switzerland Credit Suisse rescue impacts global finance

In a surprising and swift move, Switzerland’s political leaders orchestrated a rescue of Credit Suisse, the country’s second-largest bank, days before a press conference that stunned the financial world. Despite public reassurances from the Swiss National Bank and financial regulators that Credit Suisse was stable, a behind-the-scenes effort was underway to save the bank, resulting […]

Credit Suisse Tempts Asia’s Wealthy with Higher Deposit Rates

Credit Suisse Tempts Asia's Wealthy with Higher Deposit Rates

Credit Suisse is offering significantly higher deposit rates to attract new funds from wealthy clients in Asia, aiming to counter recent outflows and retain its bankers. The Swiss bank is providing a 6.5% annual rate on new three-month deposits of $5 million or more, according to three sources familiar with the matter who chose to […]

Major US Banks Inject $30 Billion to Stabilize First Republic Bank

Central banks calm markets after UBS-Credit Suisse deal

On Thursday, large U.S. banks infused $30 billion in deposits into First Republic Bank to stabilize the regional lender caught in a crisis following the collapse of two other mid-sized U.S. banks. The banking sector has been rocked since Silicon Valley Bank (SVB) collapsed last week due to significant bond-related losses triggered by last year’s […]

Harris Associates Sells Entire Stake in Credit Suisse

Harris Associates Sells Entire Stake in Credit Suisse

Harris Associates, once one of Credit Suisse’s largest and longest-standing shareholders, has sold its entire stake in the Swiss bank. The decision comes after Harris lost confidence in Credit Suisse’s strategy to halt ongoing losses and reverse a significant client exodus. Last August, Harris held around a 10% stake in Credit Suisse, but it reduced […]