. As a result, their downfall does not necessarily signal the start of a financial crisis similar to what occurred in 2008.when its shares plunged to a record low after its largest investor, the Saudi National Bank, said it wouldn’t invest any more money into the bank to avoid tripping regulations that would kick in if its stake rose about 10%.
Its current troubles began after Credit Suisse reported on Tuesday that managers had identified “material weaknesses” in the bank’s internal controls on financial reporting as of the end of last year. That fanned fears that Credit Suisse would be the next domino to fall. in interest rates to try to curb stubbornly high inflation, saying Europe’s banking sector is “resilient,” with strong finances.
Collapsing after one investor pulls out?
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