1:52 a.m. ET, March 16, 2023
Why do people care about Credit Suisse? The bank is “systemically important”
From CNN’s Allison Morrow
A Credit Suisse Group AG office building at night in Bern, Switzerland, on March 15.
(Stefan Wermuth/Bloomberg/Getty Images)
The failure last week of Silicon Valley Bank and Signature, two much smaller regional lenders, shook investor confidence around the world.
Credit Suisse is not just a Swiss problem, but a global problem.”
“I think it was naive for most people to think that it could be contained with just a few regional banks, because there are clearly still shocks reverberating through our own banking system,” Wilmarth said. “And that suggests that it could potentially spread to banks of very large size.”