Credit Suisse falls by double digits again


Published 17 March 2023 at 13.47

Economics. Swiss major bank Credit Suisse again falls heavily on the stock market, despite the central bank's promise to guarantee liquidity when needed.

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Credit Suisse recovered on on Thursday after Wednesday's very sharp fall, but now it's heading down again.

The stock opened on the plus side, but at the time of writing is down 12 percent.

The central bank of Switzerland announced earlier that it lends up to 50 billion Swiss francs, equivalent to 560 billion kroner, to Credit Suisse.

The new race comes after the proposal for a merger between Credit Suisse and rival UBS has been dismissed. At the same time, the Swiss People's Party, the country's largest party, has turned against giving government support to the crisis bank.

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