Credit Suisse to borrow up to $54B from Swiss central bank

On Thursday, Credit Suisse Group AG announced its intention to secure a loan of up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank's (SNB) Covered Loan Facility, with the aim of proactively reinforcing its liquidity. The bank emphasized that these funds will be directed towards bolstering its core operations and clientele, as Credit Suisse undergoes a transformation to become a more streamlined and client-centric financial institution.