Credit Suisse shares soar 30% on Swiss National Bank loan announcement

Credit Suisse shares soared much than 30% connected Thursday morning, aft the slope announced that it volition borrow up to 50 cardinal Swiss francs ($54 billion) from the Swiss National Bank.

The embattled Swiss lender announced precocious connected Wednesday that it would workout its enactment to get from the cardinal slope nether a covered indebtedness installation and a short-term liquidity facility.

The SNB and the Swiss Financial Market Supervisory Authority said successful a connection Wednesday that Credit Suisse "meets the superior and liquidity requirements imposed connected systemically important banks."

Shares of Credit Suisse plunged to a caller all-time low for the 2nd consecutive time connected Wednesday, aft apical capitalist the Saudi National Bank said that it would not beryllium capable to supply it immoderate much currency owed to regulatory restrictions.

This is simply a processing communicative and volition beryllium updated shortly.