You turn to us for voices you won't hear anywhere else.

Sign up for Democracy Now!'s Daily Digest to get our latest headlines and stories delivered to your inbox every day.

Swiss Central Bank Bails Out Credit Suisse Bank Amid Market Jitters

HeadlineMar 16, 2023

Stock markets in Asia have tumbled after Credit Suisse bank signaled it will borrow up to $54 billion from Switzerland’s central bank. The bailout pushed European markets higher, after investors fled Credit Suisse and other financial stocks a day earlier amid fears the sudden collapse of U.S. banks SVB and Signature might trigger a wider financial crisis. In another sign of turmoil in the banking sector, shares of San Francisco-based First Republic Bank have fallen by nearly three-quarters over the past week, after ratings firms downgraded the bank’s credit rating to “junk.”

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation