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6min chapter
What's happening with Credit Suisse?
Patrick Boyle On Finance
The Swiss National Bank's Credit Line to Credit Suisse Boosts Liability
Credit Suisse received a $54 billion loan from the Swiss Central Bank, and instantly announced plans to buy back about $3 billion worth of their debt. The move sparked a sell-off in both European and US bank stocks,. Investors were already on edge due to the bank runs last week in the U.S. Silicon Valley Bank's failure can mostly be explained by their failure to properly manage their interest rate risk.
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