Credit Suisse Says It Will Borrow Up to $53.7 bn from Central Bank

Credit Suisse will borrow up to 50 billion francs from the Swiss central bank to shore up its business. Fabrice COFFRINI / AFP

Credit Suisse announced Thursday that it would borrow almost $54 billion from the Swiss central bank to reinforce the group after a plunge in its share prices.

The disclosure came just hours after the Swiss National Bank said capital and liquidity levels at the lender were adequate for a "systemically important bank", even as it pledged to make liquidity available if needed, AFP said.