Ready to provide liquidity assistance to Credit Bank if necessary, the Swiss Central Bank said, following the panic created by the “plunge” in the Swiss bank’s share price.

In a joint statement with FINMA, the Swiss National Bank stressed: “Credit Suisse meets the capital and liquidity requirements imposed on systemically important banks. If necessary, the SNB will provide liquidity”.

Credit Suisse had requested support

Earlier, according to Financial Times, Credit Suisse had requested support from the Swiss Central Bank. It has reportedly sought similar support from Finma, the Swiss regulatory authority.

Its stock showed signs of recovery Credit Suisse, as shortly before the closing of the exchanges, its price recovered some of the losses, rising to 1.75 Swiss francs, from 1.56 which had fallen after the 30% “plunge”. The losses amount to 21.88%.

It had earlier hit 1.87 Swiss francs, paring losses to 16.88%.

The remarkable thing about the share of this particular bank is the losses recorded since the beginning of 2023, which amount to 76.82%.