Credit Suisse will borrow 50 billion Swiss Francs ($53.68 billion) from the Swiss National Bank to try to stabilize liquidity, according to a press release.
The loan will “support Credit Suisse’s core businesses and clients” as the bank will restructure operations around client needs.
The decision comes after its top investor Saudi National Bank was quoted as saying it won’t be able to provide further assistance, reports CNBC.
