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Credit Suisse Echoes Deutsche Bank Move That Won Little Relief

A Credit Suisse Group AG bank branch in Zurich, Switzerland.
A Credit Suisse Group AG bank branch in Zurich, Switzerland.Photographer: Jose Cendon/Bloomberg

Credit Suisse AG has taken another page out of the Deutsche Bank AG playbook by offering to buy back some of its debt in an effort to calm investor nerves.

The Swiss lender’s offer on Friday morning to purchase up to $3 billion of its own debt mirrors a move by its German rival in early 2016, Barclays analysts led by Amit Goel said in a research note. At the time, Deutsche Bank sought to buy back as much as $5.4 billion euros, displaying confidence in its liquidity position.