Credit Suisse pays back some emergency liquidity, central bank data suggests
ZURICH, April 11 (Reuters) – Credit Suisse (CSGN.S) has already paid back some of the emergency liquidity offered by the Swiss National Bank (SNB), data suggested on Tuesday, signaling an ebbing of the liquidity crisis which triggered the lender’s fall.
Sight deposits – cash held by commercial banks overnight with the SNB – fell by 31 billion Swiss francs ($34.3 billion)last week, data published by the central bank showed.
The drop was the second-biggest weekly decline on record, second only to when the SNB started mopping up market liquidity after it quit negative interest rates last September.