CREDIT Suisse?

By Staff Reporters

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Leaders at the Swiss bank tried to calm down investors and clients after concerns mounted about its weak financial position, the FT reported.

Credit Suisse’s stock price has fallen to a record low and spreads on its credit default swaps have spiked, suggesting that investors are worried about it potentially defaulting.

CEO Ulrich Körner fired off a memo assuring employees that the bank has a “strong capital base and liquidity position,” but it remains in a “critical moment” ahead of a massive overhaul.

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