ECB quizzes banks on ties to Credit Suisse, sources say

THE European Central Bank has contacted banks on its watch to quiz them on their exposure to struggling Swiss lender Credit Suisse, two supervisory sources told Reuters.

One of sources cautioned, however, that they saw Credit Suisse’s problems as specific to that bank, rather than systemic.

Credit Suisse was on course to shed nearly a fifth of its value on Wednesday (Mar 15) after its largest shareholder said it could not provide any more support, pushing the Swiss bank’s CEO to make new assurances on its financial strength.

The Wall Street Journal first reported earlier on Wednesday that ECB supervisors were looking into financial ties between Credit Suisse and eurozone banks, citing people familiar with the matter. REUTERS