Credit Suisse to Get Liquidity Backstop if Needed, SNB Says
- Swiss National Bank, regulator issue show of support for bank
- Authorities say bank meets all capital, liquidity requirements
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Switzerland’s central bank and financial regulator said Credit Suisse Group AG will receive a liquidity backstop if needed, seeking to restore confidence in the troubled lender after a record slump in its shares.
“Credit Suisse meets the capital and liquidity requirements imposed on systemically important banks,” the Swiss National Bank and Finma said in a joint statement late Wednesday. “If necessary, the SNB will provide Credit Suisse with liquidity.”