Who Is Next After Credit Suisse

After it would borrow up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank, people are wondering what’s next after Credit Suisse.

Shares of Credit Suisse surged Thursday, rebounding from a fresh all-time low after the beleaguered lender announced it would tap central bank support to shore up its finances.

Switzerland’s second-largest bank said it would borrow up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank, providing a moment of relief for investors after the Zurich-headquartered firm led Europe’s banking sector on a wild ride lower during the previous session.

The Swiss-listed stock was trading around 17% higher at 1:35 p.m. London time (9:35 a.m. ET) — a massive swing from Wednesday’s more than 30% tumble after its biggest backer said it wouldn’t provide further assistance due to regulatory restrictions.

The abrupt loss of confidence in Credit Suisse, which came as fears about the health of the banking system spread from the U.S. to Europe, has prompted some to question the “true” worth of Credit Suisse’s stock price.

“We have to step back and look of course at the viability of the business model [and] at the overall regulatory landscape,” Beat Wittmann, chairman of Switzerland’s Porta Advisors, told CNBC’s “Squawk Box Europe” on Thursday.

“I think the leadership of the bank has to really use now this lifeline to review their plan because obviously, the capital markets have not bought the plan as we have seen by the performances of the equity price and the credit default swaps very recently.”

Credit Suisse’s largest investor, the Saudi National Bank, said that it could not provide the Swiss bank with any further financial assistance in a video that set Credit Suisse on fire.

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