Monday, April 24, 2023

Classic Bank Run


 Credit Suisse has revealed the scale of the bank run that triggered its state-backed rescue in March.

The Swiss banking giant said 61.2bn Swiss francs left the bank in the first three months of the year.


68.6 Billion US dollars. 


Switzerland's Foreign Currency reserves are about 800 - 1000 Billion US$.  The Swiss are very rich. They could have easily saved the bank.  But it was not worth saving. 

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