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Credit Suisse borrows up to CHF 50 billion from the Swiss National Bank

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Credit Suisse borrows up to CHF 50 billion from the Swiss National Bank

“This is a strong and important signal,” said Vontobel analyst Andreas Venditti. “We hope that the measures will calm the markets and break the negative spiral.” Not all experts were convinced that Credit Suisse would be able to put the crisis behind it. “It remains questionable what impact the SNB’s announcement will have on the dynamics of outflows of customer funds at CS,” explained Christian Schmidiger from Zürcher Kantonalbank. Kian Abouhossein, an analyst at JP Morgan, thinks a takeover is a possible scenario. UBS stands in the foreground as a candidate for a purchase.

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