: Credit Suisse shares jump as Swiss banking giant says it will borrow from SNB and buy back debt

by | Mar 16, 2023 | Stock Market

Credit Suisse shares surged 32% in opening trade, rallying as the Swiss banking giant said it will tap its central bank for 50 billion francs ($54 billion) and launching an offer to buy beaten-up debt. While the stock CH:CSGN CS came off those highs, it demonstrated that the action helped stave off some of the pressures building around the bank, which has lost money for five consecutive quarters. Other…

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