breaking news Credit Suisse: At least 4 global banks have imposed restrictions on new transactions with CS Group

• At least four global banks have imposed restrictions on new transactions with Credit Suisse Group AG
• At least two banks are taking action that involves reducing unsecured exposure to Credit Suisse in new deals
• Deutsche Bank/the value it attributes to Credit Suisse securities as collateral for loans to wealth management clients
• Societe Generale has not changed existing positions with Credit Suisse, but it is not increasing them either.
• HSBC’s private banking business reviewing loans linked to Credit Suisse securities has not made a final decision
• Credit Suisse had no immediate comment; it has previously said its capital and liquidity base is very strong

When the going gets tough, it’s normal to assess exposure to troubled institutions. Hence the need for a central bank

Read this term be the lender of last resort before you. No one wants to be caught holding the bag.