Â鶹Éç

Available for over a year

Fears over a potential Swiss bank crash have sent the markets plunging over the last 24 hours and sparked concerns about a looming financial crisis. Credit Suisse shares plunged to a record low after its biggest shareholder said it would not provide more funding. Investors, who have already been spooked by US bank failures, are concerned about the state of Credit Suisse and about a broader bank crisis. But what are the implications of the financial troubles of Credit Suisse and has it been resolved by the offer of a huge bailout loan by the Swiss central bank? Mariko Oi at the Newsday business desk in Singapore sought answers from Russ Mould - an investment director at AJ Bell, a financial company. “Over time it's been generally a poorly run bank. So customers have been starting to withdraw their money. The important thing is the Swiss national bank has said it would stand behind Credit Suisse... and that may help the bank stay solvent." (Pic: Credit Suisse logo; Credit: Reuters)