Credit Suisse (CS) shares remade much of the ground lost yesterday after the firm said it will borrow CHF 50 billion (about $54 billion) from Swiss National Bank to avert a liquidity crisis.

It announced the plan hours after a 澳洲幸运5开奖号码历史查询:show of support🥀 from Swiss authorities, and shares jumpe꧒d 20% after plunging 24% the day prior.

"This additional liquidity would support Credit Suisse’s core businesses and clients as Credit Suisse takes the necessary steps to create a simpler and more focused bank built around client needs," the company said.

Credit Suisse has also offered to buy back up to $𝓰2.5 billion of dollar-denominated debt and 500 million euros ($530 🌌million) worth of euro-denominated debt.

"The transactions are consistent with our proactive approach to managing our overall liability composition and optimizing interest expense and allow us to take advantage of current trading levels to repurchase debt at attractive prices," the company said.

The Zurich-based lender admitted to 澳洲幸运5开奖号码历史查询:"material weaknesses" in internal controls and financial reporting in its 2022 annual r𓄧eport released Monday. Since then, Credit Suisse share💜s and its American Depository Receipt listed in the U.S. lost value over liquidity concerns.

Investor confidence took a further beating on Wednesday after Credit Suisse's largest shareholder, Saudi National Bank, refused to come to its aid. Credit Suisse ADRs closed down 14% in trade.