The New York Entrepreneur

: White House calls Credit Suisse ‘distinct issue,’ separate from economic environment

Read Time:40 Second

The Biden administration on Thursday called recent problems at Credit Suisse CH:CSGN a “distinct issue,” and unrelated to “the current economic situation,” after two U.S. banks failed last weekend. White House press secretary Karine Jean-Pierre told reporters that the administration is glad the Swiss central bank gave a reassurance in the form of a loan facility, and noted that the U.S. Treasury is in touch with its Swiss counterparts. As MarketWatch reported, Credit Suisse shares surged Thursday, rallying as the Swiss banking giant said it will tap its central bank for 50 billion francs ($54 billion) and launching an offer to buy beaten-up debt.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

About Post Author

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Previous post Amtrak announces ultra-cheap fares for late-night rides on popular routes
Next post The Ratings Game: ‘High proportion’ of startups may fold by year’s end following Silicon Valley Bank failure, Morgan Stanley says