Credit Suisse said today that it would borrow up to $54 billion from Switzerland's central bank to shore up liquidity and investor confidence, after a slump in its shares had intensified fears about a global banking crisis, Reuters reported. The bank's announcement prompted a 24% rise in Credit Suisse shares and helped reverse some of the heavy losses on stock markets driven by investor fears over potential bank runs across the world. Credit Suisse is the first major global bank to be thrown an emergency lifeline since the 2008 financial crisis and its troubles have raised serious doubts over whether central banks will be able to sustain their fight against inflation with aggressive interest rate hikes. Switzerland's second-largest bank said it would exercise an option to borrow up to 50 billion Swiss francs ($54 billion) from the central bank. That followed assurances from Swiss authorities on Wednesday that Credit Suisse met "the capital and liquidity requirements imposed on systemically important banks" and that it could access central bank liquidity if needed. Read more.