Statement for Credit Suisse from Swiss National Bank and FINMA: Will the Crisis Be Solved?

The Swiss National Bank and FINMA issued a statement on market uncertainty.

Swiss National Bank Announces It Will Provide Liquidity To Credit Suisse If Needed

“Credit Suisse meets the capital and liquidity requirements applicable to systemically important banks. SNB will provide liquidity to $CS if needed.” it was said.

The Swiss National Bank SNB and the Swiss Financial Market Supervisory Authority FINMA argued that the problems of some banks in the US do not pose a direct crisis risk for the Swiss financial markets.

In addition, systemically important banks have to meet higher capital and liquidity requirements.

The stock market value of Credit Suisse and the value of its debt securities were particularly affected by the market reactions in the last days. Swiss authorities said:

“FINMA is in very close contact with and has access to all audit law information. Against this, FINMA confirms that Credit Suisse meets the liquidity requirements applied to high capital and systemically important banks.

In addition, SNB will provide liquidity to this globally active bank if needed. FINMA and SNB are following developments very closely and are in close contact with the Federal Ministry of Finance to ensure financial stability.”

As it is known, in the crisis experienced today, the Saudi Arabian supporters of Credit Suisse announced that they would no longer support the company. Cryptocurrency The world is following the developments closely. The recent banking crisis in the USA had a negative impact on Bitcoin and altcoins.

*Not investment advice.