Unlikely. The article describes a lender-of-last-resort mechanism more than a bail-out [1]. It comports with the EU's ELA [2]. It's an exorbitant privilege, for sure, but not TBTF.
Depends on the circumstances. If they manage to take someone else (read: UBS) down with them, probably. If they blow up on their lonesome, probably not.
Comments
Unlikely. The article describes a lender-of-last-resort mechanism more than a bail-out [1]. It comports with the EU's ELA [2]. It's an exorbitant privilege, for sure, but not TBTF.
[1] https://www.efd.admin.ch/efd/en/home/the-fdf/nsb-news_list.m...
[2] https://www.ecb.europa.eu/pub/pdf/other/ecb.agreementemergen...
I will bet you an adult beverage of your choice if push comes to shove, they will rescue CS.
Depends on the circumstances. If they manage to take someone else (read: UBS) down with them, probably. If they blow up on their lonesome, probably not.