Finance
Credit Suisse Got Its Lifeline. Now It Must Win Back Clients
- Swiss lender’s SNB facility eases doubt about liquidity
- Behavior of clients and counterparties still closely watched
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The $54 billion lifeline won by Credit Suisse Group AG on Thursday gives it a fighting chance to rebuild its business. Some clients aren’t waiting around to find out how that goes.
In Asia, several ultra-wealthy clients continued to cut back their exposure amid the tumult this week. In the Middle East, some customers asked the bank to convert cash deposits into treasury bills and bonds. An executive at a rival European bank said they’re seeing some deposits shifting from Credit Suisse, although the amount isn’t yet sizable.