After US banks fail, contagion heads to European banks – smaller banks begin to fold – Crypto Gator | The Best Cryptocurrency, Blockchain and Forex News Aggregator

After US banks fail, contagion heads to European banks – smaller banks begin to fold

Quick Take Credit Suisse share price hits a record low — $2.19, a pre-market low of over 12%. The problem for Credit Suisse is that it cannot cover deposit flights […]

Quick Take

Credit Suisse share price hits a record low — $2.19, a pre-market low of over 12%.
The problem for Credit Suisse is that it cannot cover deposit flights and borrow money in the markets.
According to Bloomberg: This comes after Credit Suisse top shareholder rules out providing more financial assistance to the struggling bank.
In addition, Credit Suisse identified “material weaknesses” in its reporting and controls procedure.
Customer outflows for the fourth quarter amounted to over 110 billion Swiss Francs.

Credit Suisse Share Price: (Source: Yahoo)

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