UK media, The Telegraph. Says the Bank of England is in emergency talks as the Credit Suisse crisis worsens.
From the Tele's article:
- The Bank of England was holding emergency talks with international counterparts on Wednesday amid rising alarm at a potential financial disaster at one of Europe’s biggest banks. Swiss officials were forced to make a show of support after shares in Credit Suisse plunged by as much as 30pc, spreading fear through the City of London
- Bank of England officials were in talks with counterparts, as they all raced to assess the potential impact of the problems at Credit Suisse, a “systemically important” institution that is enmeshed in the global financial system.
Treat this with care. It'd be irresponsible for major developed market central banks to not be holding meetings to assess and discuss the banking turmoil in the US and now at CS. The meetings may well be called in haste, and thus media reports of 'emergency'.
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Swiss promised support to CS is known already:
