Swiss National Bank says it would support credit Suisse if necessary

The Swiss National Bank (SNB) and the Swiss Financial Market Supervisory Authority (FINMA) person released a associated connection March 15 connected the stableness of the Swiss banking strategy and Credit Suisse (CS). The problems of “certain banks successful the USA” bash not airs a hazard for the Swiss fiscal system, they wrote.

The regulators said Credit Suisse meets each superior and liquidity requirements, but “if necessary, the SNB volition supply CS with liquidity.”

The connection comes arsenic CS shares fell up to 30%. According to a Reuters report, European Central Bank officials person contacted banks they supervise to inquire astir their CS exposure, and the French concern curate would telephone his Swiss workfellow to sermon the developments astatine CS.