Credit Suisse secures $54 billion lifeline as authorities rush to avert global bank crisis

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By Tom Westbrook and Saeed Azhar (Reuters) – Credit Suisse on Thursday said it would borrow up to $54 billion from the Swiss central bank to shore up liquidity and investor confidence after a slump in its shares intensified fears about a global banking crisis. The Swiss bank’s announcement helped stem heavy selling in financial markets in Asian morning trade on Thursday, following torrid sessions in Europe and the United States overnight as investors fretted about potential runs on global bank deposits. In its statement early Thursday, Credit Suisse said it would exercise an option to borrow f…

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