The Swiss central bank will lend 50 billion to Credit Suisse which flies on the stock exchange
After hitting all-time lows, short-term lending gives the bank a record 40 percent rebound. Positive start to the session also for the other European Stock Exchanges
The Swiss Central Bank will lend 50 billion francs to try to stabilize Credit Suisse, after the collapse that had brought it to an all-time low of 1.55 francs and a decline of 30 percent. The announcement had already arrived yesterday evening, with a statement from the Central Bank in which it expressed its willingness to provide financial support: this morning Credit Suisse announced the strengthening of its liquidity, thus suggesting that the loan is done. The Zurich Stock Exchange immediately showed the effects: Credit Suisse jumped 40 percent, trailing other European stock exchanges which opened higher, including Piazza Affari.