Credit Suisse shares lose more than 9% of its value around 12:00 GMT this Friday in the Zurich Stock Exchangeand doubts about the stability of the bank return to the Swiss stock market, after the great ups and downs of the two previous days.
The bank, which lost 24% of its stock market value on Wednesday but recovered 19% on Thursday, after announcing that it would receive financial aid from the Swiss National Bank (central), opened today’s session positive but returned to losses a few minutes later.
Investors remain attentive to the price of the bank, one of the 20 largest in Europe, after its main shareholder, the Saudi National Bank, announced that it I would not invest more in it (which influenced the stock market crash two days ago) and the Swiss national bank to help him after it.
The Swiss National Bank promised in the early hours of Wednesday to Thursday to lend 50,000 million francs (54,000 million euros) to Credit Suisse.
The Swiss government held a meeting last day with authorities from the central bank and with the country’s securities regulatory commission (Finma) to analyze the complicated situation of the bank, although it did not make public statements on the matter (it could do so today, after its regular meeting weekly).
The country’s center and right parties they have been optimistic due to the situation of the bank, alleging that it has “a crisis of confidence rather than solvency”, while the left has called for “full transparency” on the operation to help the bank, and that those responsible be held accountable.
Analysts in the Swiss press stress that despite the bank’s difficult situation, will not need a state rescue operationsuch as the one that had to be carried out in 2008 with its main Swiss rival, UBS, due to its exposure to the US real estate crisis.
So, in the wake of financial difficulties, the Swiss government established a system that would force it to help entities “too big to fail” (“too big to fall” in stock market jargon).
(With information from EFE)
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Source-www.infobae.com