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Swiss central bank to provide Credit Suisse liquidity backstop as shares battered

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The Swiss National Bank has pledged to provide Credit Suisse with liquidity "if necessary" after the bank's share price tanked on concerns over its financial health.A joint statement from the Swiss National Bank and regulator Finma looked to calm the storm around Credit Suisse, after its share price tumbled by as much as 30%.

The slump followed comments from the chair of the Credit Suisse's biggest shareholder, the Saudi National Bank, which ruled out increasing its stake in the Swiss lender.The...

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