Credit Suisse announced that it will borrow $54 billion from the Swiss National Bank “to strengthen its liquidity”
In a statement released on Thursday, the bank said it would borrow up to 50 billion francs ($54 billion) from the Swiss National Bank (SNB) “to strengthen its liquidity.”
On the other hand, Credit Suisse’s largest shareholder said “everything is fine” and that it is “unlikely” that the bank will seek more capital.
Ammar Al Hudari, Chairman of Saudi National Bank, which became the largest shareholder of Credit Suisse late last year, said in an interview that they would not increase their stake in Credit Suisse from its current level of just under 10 percent.
When asked if Credit Suisse’s bank would be willing to take additional injections if it needed liquidity, Al Hudari replied, “Absolutely not, for regulatory and legal reasons and many other reasons.”
