US Treasury says it is monitoring Credit Suisse situation

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(Bloomberg) — The U.S. Treasury Department is monitoring the Credit Suisse situation, a spokeswoman said Wednesday, after the bank’s largest shareholder declined increase his stake and the stock fell the most on record.

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The spokesperson said the Treasury is in touch with its global counterparts.

For global investors, the looming crisis at has raised concerns about stability, even after the rapid collapse of three regional US banks.

The Zurich-based lender, which is in the midst of a complex three-year restructuring, is struggling stem deposit outflows. The cost of credit derivatives involving Credit Suisse is reminiscent of the 2008 panic.

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