off-the-wire

Swiss National Bank confirms that it will provide liquidity to Credit Suisse

Kitco Media
By Reuters
Published:
Updated:
Reuters

ZURICH, March 16 (Reuters) - The Swiss National Bank confirmed on Thursday that it will provide liquidity to Credit Suisse (CSGN.S) against sufficient collateral.

"Within the framework of its statutory mandate, the SNB may provide liquidity to a domestic bank against collateral," the central bank said in response to questions from journalists.

Credit Suisse said early on Thursday it would make use of a $54 billion loan from the SNB to shore up liquidity and investor confidence.

Reporting by John Revill; editing by Jason Neely
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