Quick Take
- Credit Suisse shares plunged 24%, and its bonds traded at distressed levels.
- Credit Suisse may have reached a point of no return to hold its wealth management clients or fund its activities.
- “Credit Suisse to get liquidity backstop if needed,” according to Bloomberg.
- Credit Suisse borrows up to 50 billion CHF from the Swiss National Bank, equivalent to 6.25% of the Swiss GDP.
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