Credit Suisse group takes steps to improve liquidity
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Reuters reported early Thursday that Credit Suisse Group AG undertook decisive action to pre-emptively strengthen liquidity and announces public tender offers for debt securities.
“Taking decisive action to pre-emptively strengthen its liquidity by intending to exercise its option to borrow from SNB up to CHF50 billion under a covered loan facility as well as a short-term liquidity facility.”
“Announces offers by Credit Suisse International to repurchase certain OPCO senior debt securities for cash of up to about CHF3 billion.”
Markets are seeing a minor recovery in the risk sentiment, following the bloodbath fuelled by the Credit Suisse crisis on Wednesday. The rescue plan announced by Credit Suisse could offer additional comfort to the traders but risks continue to loom ahead of the European Central Bank (ECB) policy decision.
The S&P 500 futures are up 0.46% on the day while the EUR/USD pair clings to recovery gains at around 1.0600 so far.
[/s2If]
Join Our Telegram Group
