"This concern is justified, in so far as if such an internationally relevant bank is illiquid, risking also to be insolvent, other banks and non-bank financial institutions might become much more fragile and be close to failure, so much so for banks that are negatively affected by a large and massive bank run. Also, the current uncertainty about the future performance of the global economy increases the fear of a major financial crisis, considering also the mounting problems in regard to so-called crypto-assets," said Rossi.
"A domino effect is likely to occur, if the intervention of the Swiss National Bank – which has been providing a credit line up to 50 billion Swiss francs to Credit Suisse – is not going to be enough to avert this bank’s failure and hence a large domino effect across the global financial markets," continued Rossi. "I do not know which banks could be the next going bankrupt, but I imagine that those banks that have granted a large volume of credits to Credit Suisse might be the next being affected negatively by the current situation."