BlackRock Says No To Credit Suisse - Are Their Books So Bad?

Dalmas Ngetich
Dalmas Ngetich

19 Mar 2023 12:44 PM

Credit Suisse Group, a global investment bank based in Switzerland, is struggling to survive but BlackRock is not buying....

  • Credit Suisse, the second-largest bank in Switzerland, is facing financial difficulties, with its stock crashing by 30% in the past week.
  • The bank announced that it would borrow up to CHF 50 billion from the Swiss National Bank as relief funds, but it may need to take further measures to restore investor confidence.
  • BlackRock, the world's largest asset manager, has announced that it has no interest in participating in any plans to acquire all or any part of Credit Suisse.
  • To restore trust in the financial sector, the Swiss government and global authorities are nearing a deal for UBS Group to take over Credit Suisse and fix the crisis of confidence.
  • Credit Suisse is also buying back some of its debt, but some analysts see this as a potential vulnerability that may hinder its survival.
  • BlackRock is researching how blockchain technology and tokenization of stocks could be used to modernize the stock market.

The article has a negative sentiment as it discusses the financial difficulties faced by Credit Suisse and the potential takeover by UBS Group to restore investor confidence.

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Related Questions

What caused Credit Suisse's stock to crash by 30% in the past week?
What measures did Credit Suisse take to restore investor confidence?
Is BlackRock interested in acquiring all or any part of Credit Suisse?
What is the use case for blockchain technology and tokenization of stocks discussed in the article?
Why do some analysts see Credit Suisse's buyback of debt as a potential vulnerability?

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