Credit Suisse seeks show of support from Swiss National Bank, FT reports

Credit Suisse (CS) is seeking a public show of support from the Swiss National Bank after its shares sunk up to 30% after having been halted amid a heavy selloff, The Financial Times’ Owen Walker and Stephen Morris reports. The Swiss bank has also asked for a similar show of support from regulator FINMA, though neither it nor the SNB has yet decided to publicly intervene, two people familiar with the matter say. The steep selloff came in the wake of the collapse of Silicon Valley Bank (SIVB) and after the chair of the Saudi National Bank, which bought a 10% stake in Credit Suisse last year, ruled out providing the Swiss lender with any more financial assistance. Reference Link