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Credit Suisse to borrow $54 billion from Swiss central bank to shore up finances

BusinessCredit Suisse to borrow $54 billion from Swiss central bank to shore up finances

GENEVA (AP) — Swiss bank Credit Suisse said Thursday it will move to shore up its finances, borrowing up to $54 billion from the central bank after its shares plunged, dragging down other major European lenders in the wake of bank failures in the United States.

Credit Suisse said would exercise an option to borrow up to 50 billion francs ($53.7 billion) from the central bank.

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