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Credit Suisse shares suspended, banking crisis deepens

Published 15/03/2023, 11:05
Updated 15/03/2023, 11:10
© Reuters.  Live: Credit Suisse shares suspended, banking crisis deepens

© Reuters. Live: Credit Suisse shares suspended, banking crisis deepens

Proactive Investors - Credit Suisse Group has been suspended from trading after shares plummeted 20% to a record low on Wednesday.

Shares fell below two Swiss francs (180p) amid market contagion fears following SVB’s collapse.

Saudi National Bank’s chairman (Credit Suisse’s largest investor) Ammar Al Khudairy ruled out injecting further funds into Credit Suisse (SIX:CSGN) if there was another call for additional liquidity.

Al Khudairy told Reuters that Saudi National Bank cannot provide the Swiss bank with more financial assistance, saying: “We cannot because we would go above 10%. It’s a regulatory issue.”

More to come…

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it was already predicted by few Wise guys who obviously are not part of Biden government or FED members that at point of interest rate hike banks will fail and then money printing starts again. This will again make inflation out of control.
Its all rather pathetic isnt it! Sure govt bail out yet again!
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