(Bloomberg) — The U.S. Treasury Department is monitoring the Credit Suisse situation, a spokeswoman said Wednesday, after the bank’s largest shareholder declined to increase his stake and the stock fell the most on record.
Read the most from Bloomberg
The spokesperson said the Treasury is in touch with its global counterparts.
For global investors, the looming crisis at Credit Suisse Group AG has raised concerns about financial 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 to stem deposit outflows. The cost of credit derivatives involving Credit Suisse is reminiscent of the 2008 financial panic.
Read the most from Bloomberg Businessweek
©2023 Bloomberg L.P.