Shares of the $Credit Suisse(CS.US)$
fell sharply on Wednesday, hitting an all-time low for a second consecutive day after its top investor Saudi National Bank said it won’t be able to provide further assistance.
The demand for its CDS (credit-default swaps) spiked to levels that signal Credit Suisse is in deep financial distress. The turmoil somehow triggered a throwback to the financial crisis in 2008.
Credit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility.
Do you think CS can work through its current financial difficulties?
Will the Fed make a different rate-raising decision considering the current situation?