Banking Crisis Shifts To Europe: Credit Suisse To Borrow $54 Billion From Swiss Central Bank

Credit Suisse announced borrowing up to 54 billion dollars from the Swiss Central Bank after a slump in its shares intensified fears about a broader bank deposit crisis.

The Swiss Bank's problems have shifted the focus for investors and regulators from the United States to Europe, where Credit Suisse led a selloff in bank shares after its largest investor said it could not provide more financial assistance because of regulatory constraints.

Regulators in the private banking hub have sought to ease investor fears around Credit Suisse, which added to broader worries sparked by last week's collapse of Silicon Valley Bank and Signature Bank.