Stress within the U.S. banking system jumped throughout the Atlantic this week, sparking turmoil for embattled Swiss financial institution Credit score Suisse.
The European lender has lengthy been dogged by points. However on Wednesday, issues surrounding the financial institution exploded into plain view. After a whirlwind 24 hours marked by a dramatic fall within the financial institution’s inventory value and monetary contagion considerations,
Credit score Suisse mentioned it will borrow money from the Swiss central financial institution to shore up its liquidity. On Saturday, Credit score Suisse’s bigger rival, UBS Group AG, was in talks to take over all or a part of the financial institution.