In a statement, the Swiss National Bank said it is providing large amounts of support for the deal to merge Switzerland's biggest banks and that the late Sunday announcement by the federal government, financial regulators and the central bank “put a halt to the crisis.”
Credit Suisse deal averted crisis, Swiss central bank sayshttps://news.yahoo.com/credit-suisse-deal-halted-crisis-092818791.html
SNBN.SW - Schweizerische NationalbankYahoo Finance
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Swiss Financial Accounts; Swiss Balance of Payments and International Investment Position; Direct Investment; Foreign exchange and derivatives trading; Discontinued publications. Banks in Switzerland; Monthly Statistical Bulletin; Monthly Bulletin of Banking Statistics; Swiss Balance of Payments; Switzerland’s International Investment Position
The Swiss National Bank acts as banker to the Swiss Confederation. It processes payments on behalf of the Confederation, issues money market debt register claims and bonds, handles the safekeeping of securities and carries out money market and foreign exchange transactions.
Credit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility.
The Swiss National Bank has the exclusive right to issue banknotes in Switzerland. It supplies the economy with banknotes that meet high standards with respect to quality and security. It is also charged by the Confederation with the task of coin distribution.
The Swiss National Bank on Monday reported a loss of 132 billion Swiss francs ($143 billion) for the 2022 financial year, citing preliminary figures.
The chairman of the Saudi National Bank — Credit Suisse’s biggest shareholder, following a capital increase last fall — said earlier Wednesday it would not increase its stake in Credit Suisse.
Saudi National Bank, which is 37%-owned by Saudi Arabia’s sovereign wealth fund, acquired a 9.9% stake in Credit Suisse in October for $1.5 billion, making it an anchor investor in the bank’s ...