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Credit Suisse’s troubles – spies, money laundering and central bank cash

By Michael Shields

Credit Suisse is to borrow up to $54BN from the Swiss central bank to bolster liquidity and reassure investors after its shares slumped on fears of contagion from a banking crisis in the United States.

The central bank lifeline is expected to give the Swiss bank time to carry out a major overhaul it had already embarked on in 2022 to recover from a string of scandals, losses and lawsuits.

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