“Credit Suisse Crisis: Over €61 Billion Withdrawn in Lead-Up to UBS Rescue and First-Quarter Outflows Reach €62 Billion”

Credit Suisse experienced massive outflows of funds leading up to its rescue by UBS. According to reports, over €61 billion were withdrawn from Credit Suisse before the bailout. The crisis impacted the bank’s first-quarter earnings, with outflows totaling €62 billion. Meanwhile, Bloomberg Television reported that Credit Suisse witnessed $69 billion in outflows during the same period. The situation resulted in a rescue by UBS, with Credit Suisse’s survival at stake. Furthermore, BBC reported that £55bn were taken from Credit Suisse before the rescue. For more information on this topic, please click on the links provided.