Stress in the US banking system jumped across the Atlantic this week, wreaking havoc on beleaguered Swiss banks credit suisse.
European lenders have long been plagued with problems. But on Wednesday, problems surrounding banks exploded. After a 24-hour whirlwind marked by a dramatic drop in bank stock prices and financial spillover concerns,
Credit Suisse said it would Borrow cash from the Swiss Central Bank to enhance liquidity. On Saturday, Credit Suisse’s biggest rival, UBS Group AG, was Negotiating acquisition all or part of a bank;
https://www.wsj.com/articles/why-is-credit-suisse-in-trouble-the-banking-turmoil-explained-6f8ddb5b?mod=rss_markets_main Why is Credit Suisse in trouble? Banking chaos explained