Credit Suisse Aid: The Bloomberg Open, Europe Edition
Pascal Mora/Bloomberg
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Good morning. Credit Suisse will access liquidity from the SNB. The ECB and the Fed may change their hiking plans. And fans of The Cure discover that Ticketmaster’s fees can exceed the price of their seats.
Credit Suisse will borrow up to 50 billion Swiss francs from the Swiss National Bank and it offered to repurchase up to 3 billion francs worth of senior debt securities. This comes as the SNB and CS discuss options to stabilize the bank, including a possible spin-off or tie-up with UBS. Credit Suisse’s ADRs pared losses after the SNB earlier said it would provide the liquidity backstop.