Swiss franc

More than $68 billion was withdrawn from Credit Suisse in the first three months of 2023, the bank said Monday in what are likely its final quarterly results before it is swallowed by rival UBS.    

Switzerland's long-time second largest bank saw 61.2 billion Swiss francs ($68.6 billion) withdrawn in the first quarter alone.    

Swiss Finance Minister Karin Keller-Sutter said the government's decision to provide liquidity support to UBS Group AG and Credit Suisse was made with the aim of maintaining financial stability and not simply a desire to save a troubled institution.

The Swiss bank Credit Suisse will take a short-term loan of up to 50 billion Swiss francs from the Swiss National Bank.

The bank, whose shares collapsed yesterday on the Swiss stock exchange, announced in parallel a series of debt buybacks for around 3 billion Swiss francs. Yesterday, the bank's share price fell by 24.24 percent.

Ljubljana – Slovenian banks have come out strongly against a bill the upper chamber of parliament has tabled to help several thousand borrowers who took out loans in Swiss francs at low interest rates while their monthly instalments skyrocketed when the Swiss central bank stopped protecting the value of the currency in 2015.

Greece's Supreme Court has overwhelmingly ruled that some 70,000 people who had taken out loans in Swiss francs will have to repay them at the current exchange rate and not that at the time they were issued by the banks. 
Due to a currency appreciation of the Swiss franc, many borrowers have seen the cost of their loan increase despite having paid regular installments in repayments.

Croats stuck with huge debts over loans taken out in Swiss Francs are celebrating a final court ruling in their favour on Wednesday - confirming an initial verdict five years ago.

The euro jumped more than half a percent after breaking above a key level on Aug. 29 while the dollar fell to a two-year low against the Swiss franc after a North Korean missile test sapped investors' leveraged demand for risky assets.

Switzerland changes the calculation of the guarantee for taxpayers who are not domiciled in the country, announced the Embassy of Bulgaria in Bern and the Executive Agency for Promotion of Small and Medium-Sized Enterprises.

The government of Switzerland asks refugees who arrive to give to the state any assets worth more than 1,000 Swiss francs in order to to help pay for their stay, according to the broadcaster SRF.

A ministerial meeting was held on Friday to discuss how the government will proceed regarding the data of the bank accounts of Greek citizens in Switzerland received by Germany.