Posted on 03/15/2023 4:03:59 AM PDT by Oldeconomybuyer
Shares of embattled bank Credit Suisse on Wednesday hit another all-time low for a second consecutive session, dropping by more than 21% shortly before being halted from trade.
Credit Suisse’s largest investor, Saudi National Bank, said it could not provide the Swiss bank with any further financial assistance, according to a Reuters report.
“We cannot because we would go above 10%. It’s a regulatory issue,” Saudi National Bank Chairman Ammar Al Khudairy told Reuters Wednesday.
Several Italian banks were also subject to automatic trading stoppages after sharp declines, including UniCredit, Finecobank and Monte Dei Paschi.
The embattled Swiss lender disclosed the observation in its annual report, which was initially scheduled for last Thursday, but was delayed by a late call from the U.S. Securities and Exchange Commission (SEC).
(Excerpt) Read more at cnbc.com ...
They are a Swiss bank.
Their US banks don’t account for a huge part of their assets.
I always thought it would be the German banks that went down first. But, Swiss banks are close enough.
They will hold on until Friday. It will be another “tense” weekend.
Well, at lest they tried to focus on their main priorities of diversity, equity and gay rights.
No Hamilton or Jackson? BS
Hamilton, the ‘champion’ of central bankstering, is clearly out.
Don’t know enough on the issue of inclusion/exclusion of Jackson to comment...
Debit Swiss
Oil tumbles below $70 as ‘all hell breaks loose’ with banking crisis
Let’s go back to the Gold Standard.
Abolish the Fed and the IRS.
A lot of folks today agree with you, buying up Silver and Gold, and the spot prices making significant “gains”. “Gains” in quotes, since their “price” makes no difference - this is real money, and a store of wealth. Buying PMs is essentially trading worthless fiat for real money. It’s not the PMs rise, it’s all about fiat falling, while PMs value is steady.
The FED’s days are numbered... VERY numbered.
Currently at about $8 each
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