Credit Suisse Thrown $54 Billion Lifeline in Rush to Ward Off Global Bank Crisis
Credit Suisse (CSGN.S) said on Thursday it would borrow up to $54 billion from Switzerland’s central bank to shore up liquidity and investor confidence, after a slump in its shares had intensified fears about a global banking crisis. As reported on Reuters, the bank’s announcement, which came in the middle of the night in Zurich,…