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About six months before Credit Suisse was sold to rival UBS in a weekend rescue, the head of the Swiss central bank wanted to inject 50 billion Swiss francs ($57.6 billion) into the lender and nationalise it, according to three sources with direct knowledge of the matter. Hobbled by a series of scandals and failed restructuring plans under successive management teams, Credit Suisse had experienced massive deposit outflows in October 2022. Swiss National Bank Chairman Thomas Jordan and other officials believed the lender faced an existential crisis that could not be solved by just injecting cash, two of the sources said. ....
Hobbled by a series of scandals and failed restructuring plans under successive management teams, Credit Suisse had experienced massive deposit outflows in October 2022. Swiss National Bank Chairman Thomas Jordan and other officials believed the lender faced an existential crisis that could not be solved by just injecting cash, two of the sources said. ....
How Swiss Authorities Bungled Credit Suisse Oversight usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
About six months before Credit Suisse was sold to rival UBS in a weekend rescue, the head of the Swiss central bank wanted to inject 50 billion Swiss francs into the lender and. ....