The Swiss National Bank (SNB) and the Swiss Financial Market Supervisory Authority (FINMA) published a joint statement on the stability of the Swiss banking system and Credit Suisse (CS) on March 15. The problems of “certain banks in the US” do not pose a risk to the Swiss financial systemthey wrote.
The regulators said Credit Suisse meets all capital and liquidity requirements, but “if necessary, the SNB will provide liquidity to CS.”
The statement comes as CS shares fell as much as 30%. According to a Reuters report, European Central Bank officials have contacted the banks they oversee to ask about their exposure to CS, and the French finance minister would call his Swiss colleague to discuss developments in CS.
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