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Swiss National Bank confirms that it will provide liquidity to Credit Suisse

Published 16/03/2023, 10:36
© Reuters. FILE PHOTO: The building of the Swiss National Bank is seen in Zurich, September 22, 2022.  REUTERS/Arnd Wiegmann/File Photo
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ZURICH (Reuters) - The Swiss National Bank confirmed on Thursday that it will provide liquidity to Credit Suisse (SIX:CSGN) against sufficient collateral.

© Reuters. FILE PHOTO: The building of the Swiss National Bank is seen in Zurich, September 22, 2022.  REUTERS/Arnd Wiegmann/File Photo

"Within the framework of its statutory mandate, the SNB may provide liquidity to a domestic bank against collateral," the central bank said in response to questions from journalists.

Credit Suisse said early on Thursday it would make use of a $54 billion loan from the SNB to shore up liquidity and investor confidence.

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