There are fears over the future of Switzerland’s second biggest bank Credit Suisse.
Shares fell yesterday to a historically low level, highlighting investor fears the bank could go under.
Credit Suisse says it will reveal details of a restructuring plan at the end of the month – but analysts believe it may be forced to publish that report earlier.
An internal document to the staff tried to reassure worried workers. It says the plan will allow the bank to increase value over the long term.
A report in the Financial Times says the bank’s executives spent the weekend trying to reassure large clients and investors that the bank’s liquidity and capital reserves were sufficient.
One research note by US bank JPMorgan says Credit Suisse’s capital and liquidity was healthy – but Deutsche Bank says it has a CHF 4bn shortfall.
Other analysts suggest the only way the bank can be saved is either by being bought by a competitor or by the Confederation stepping in.
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