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the swiss central bank has agreed to provide a loan of more than $50 billion to the troubled banking giant, credit suisse, if needed. shares in the bank have plunged 24%, sparking a wider sell off in european stocks, which closed down more than 3%. it comes days after the failure of silicon valley bank in the us. our correspondent, michelle fleury, has more. hopes michelle fleury, has more. the problems of us bar would hopes the problems of us banks would stay in the us haven t panned out, shares in switzerland is second largest bank credit suisse dropped 20% to record lows, should point out credit suisse is a bank which has been in turmoilfor years as one wall st analyst ported a slow moving car crash will stop to new things have happened speaking investors, it has material we in its financial reporting and its top back ruled out lending it any more money, all of this is adding to concerns about the global banking system, in an attempt to stabilise the troubled lender ....
Adding to concerns about the global banking system, in an attempt to stabilise the troubled lender the swiss central bank and swiss banking regulator said that credit suisse meet its capital and liquidity requirements, and crucially this was central bank was ready to lend money necessary. us us authorities are also monitoring the situation, european central bank has called banks on its watch to exposure to the swiss lender, the ecb the first central bank to face the interest rate dilemma, will it hike by 50 basis points as planned and its ratesetting meeting later this thursday or has the renewed bank turmoil changed its calculation? earlier, i spoke to hal lambert, a former director at credit suisse. he told me there were significant concerns about the future of the bank. the bank has been poorly run for a very long time and when you have poorly run banks and a credit situation ....