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Saudi National Bank: Regulators ready to plug holes, Credit Suisse panic unwarranted

Quoting the Chairman of the Saudi National Bank, Ammar Al KhudairyBloomberg tweeted: “Panic around Credit Suisse is unwarranted“and added that”regulators are set to plug holes when they appear“.

Al Khudairy said: “If you look at what even the Swiss National Bank said yesterday with all the ratios, they are all solid, everything is fine.”

Credit Suisse Group AG is not likely to seek more capital and the bank is generally “solid”, he added.

The National Bank of Saudi Arabia, the main shareholder of Credit Suisse Group AG, on Wednesday ruled out another request for additional liquidity. Credit Suisse fell as much as 29%, to a new all-time low, as credit default swaps linked to bonds issued by Credit Suisse soared to record levels.

Source: Fx Street

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