General view of the building where Credit Suisse bank has its headquarters in New York City, U.S., March 15, 2023. REUTERS/Eduardo Munoz
NEW YORK – Large U.S. banks have managed their exposure to Credit Suisse in recent months and view risks from the lender as contained so far, according to three industry sources on Wednesday who declined to be identified because of the sensitivity of the situation. The industry sources spoke before Swiss financial regulator FINMA and the nation’s central bank said on Wednesday that the Swiss National Bank would provide Credit Suisse liquidity “if necessary”, a first for a global bank since the financial crisis. Credit Suisse said in a statement that it welcomed the news.Bank stocks have been on a roller-coaster ride this week following the collapse of three U.S.
Credit Suisse shares plunged by as much as 30.8 percent earlier on Wednesday, leading a 7- percent drop in the European banking index. The U.S. Treasury said it is monitoring the situation at Credit Suisse and is in touch with global counterparts about it.
Source: News Formal (newsformal.com)
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