Credit Suisse says it will borrow up to $53.7bn from central bank

Credit Suisse will borrow up to 50 billion francs from the Swiss central bank to shore up its business. (Photo: AFP)

ZURICH: Credit Suisse announced Thursday that it would borrow almost US$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.