https://sputnikglobe.com/20230316/credit-suisse-bank-announces-sale-of-assets-worth-over-3bln-1108459460.html
Credit Suisse Bank Announces Sale of Assets Worth Over $3Bln
Credit Suisse Bank Announces Sale of Assets Worth Over $3Bln
Sputnik International
Switzerland's Credit Suisse bank announced Thursday the sale of a number of its assets in the form of debt securities in euros and dollars worth more than $3 billion.
2023-03-16T11:08+0000
2023-03-16T11:08+0000
2023-03-16T11:08+0000
economy
silicon valley bank collapse
credit suisse group ag
lehman brothers
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The offer will expire on March 22, the bank added. The Swiss National Bank and the Swiss Financial Market Supervisory Authority said that Credit Suisse, the assets of which devalued by a quarter on Wednesday, meets the capital and liquidity requirements for systemically important banks, and would be granted liquidity by the Swiss National Bank if necessary. After that, Credit Suisse said that it would borrow up to 50 billion Swiss francs (approximately $53.7 billion ) from the country's central bank. Concerns about Credit Suisse, which is one of Switzerland's largest banks, were raised after the bankruptcy of Silicon Valley Bank (SVB) in the United States. Robert Kiyosaki, a financial columnist who predicted the collapse of Lehman Brothers in 2008, said that Credit Suisse would be next. The concerns about the future of Credit Suisse were aggravated after its main stakeholder, Saudi National Bank, said that it would not bail the Swiss bank out due to its own issues with regulation.
https://sputnikglobe.com/20230315/more-banks-may-collapse-if-fed-continues-raising-interest-rate-analysts-say-1108408199.html
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silicon valley bank collapse, credit suise, banking crisis, bank collapse, bankruptcy
silicon valley bank collapse, credit suise, banking crisis, bank collapse, bankruptcy
Credit Suisse Bank Announces Sale of Assets Worth Over $3Bln
MOSCOW (Sputnik) - Switzerland's Credit Suisse bank announced Thursday the sale of a number of its assets in the form of debt securities in euros and dollars worth more than $3 billion.
"Credit Suisse also announces today that it is making a cash tender offer in relation to ten US dollar denominated senior debt securities for an aggregate consideration of up to USD 2.5 billion. Concurrently, Credit Suisse is also announcing a separate cash tender offer in relation to four Euro denominated senior debt securities for an aggregate consideration of up to EUR 500 million," the bank's press release read.
The offer will expire on March 22, the bank added.
The Swiss National Bank and the Swiss Financial Market Supervisory Authority said that Credit Suisse, the assets of which devalued by a quarter on Wednesday, meets the capital and liquidity requirements for systemically important banks, and would be granted liquidity by the Swiss National Bank if necessary. After that, Credit Suisse said that it would borrow up to 50 billion Swiss francs (approximately $53.7 billion ) from the country's central bank.
Concerns about Credit Suisse, which is one of Switzerland's largest banks, were raised after the bankruptcy of Silicon Valley Bank (SVB) in the United States. Robert Kiyosaki, a financial columnist who predicted the
collapse of Lehman Brothers in 2008, said that Credit Suisse would be next. The concerns about the future of Credit Suisse were aggravated after its main stakeholder, Saudi National Bank, said that it would not bail the Swiss bank out due to its own issues with regulation.
