UBS - Credit Suisse repays $113B government-backed lifeline - report
2023-06-01 08:28:30 ET
Credit Suisse ( NYSE: CS ) has paid back CHF 100B (US$112.5B) in liquidity support backed by federal guarantees, Reuters reported Thursday, citing Swiss Finance Minister Karin Keller-Sutter in an interview.
As part of its government-brokered rescue by rival lender UBS Group ( UBS ), Credit Suisse ( CS ) gained access to more than CHF 200B, half of which was backed by the Swiss government.
In its first-quarter results published on April 24, Credit Suisse ( CS ) said the net amount of borrowings under the credit facilities "amounted to CHF 108B after repayments of CHF 60B in the quarter, with further repayments of CHF 10B as of the date of this report."
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Credit Suisse repays $113B government-backed lifeline - report