Credit Suisse seen as 'distinct situation' to US banking crisis

Credit Suisse seen as 'distinct situation' to US banking crisis
(Image: Michael Buholzer/AP)
Bloomberg
For the Biden administration and Congress, the problems facing Credit Suisse Group have nothing to do with the US economy. American regulators are consumed by the task of steadying their country’s own financial stability following the collapse of three regional banks and as First Republic Bank gets a rescue deal. A banking crisis in Europe seems literally an ocean away.That much is apparent from the reaction from the White House, lawmakers and US regulators to Credit Suisse’s mounting woes: it’s unrelated to their own tur...

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