Exclusive-Credit Suisse tells staff SNB facility does not trigger a ‘viability event By Reuters


© Reuters. A logo is seen on the headquarters of Swiss bank Credit Suisse on Paradeplatz in Zurich, Switzerland March 16, 2023. REUTERS/Denis Balibouse

By Selena Li

(Reuters) – Credit Suisse Group AG told staff on Thursday that the emergency backstop from the Swiss central bank does not trigger a “viability event,” according to documents seen by Reuters.

The bank also gave an update on how much money it had returned to investors in its supply chain finance funds, according to the document dated March 16. The document gave talking points to staff for client conversations.

Credit Suisse declined to comment on the memo.