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Axios
Axios
Business

Credit Suisse to borrow up to $54 billion from Switzerland's central bank

Credit Suisse the Swiss National Bank

Credit Suisse will borrow up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility as well as a short-term liquidity facility, the company announced Wednesday.

Why it matters: Credit Suisse is one of only 30 global financial institutions that the international Financial Stability Board has designated as being systemically important — it's too big to fail, per Axios' Felix Salmon.

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