Credit Suisse was recently extended \$54-cum-\$108 billion loans from the Swiss central bank, even as its takeover by UBS was announced (partly covered by taxpayers).
I'm slightly more familiar with the loans that the two recently "failed" US banks, SVB and Signature that were taken over as bridge banks were given. Namely these were given \$143 (\$142.8) billion as primary credit aka discount window, which is now 90 days in the US. But before that they took longer-term loans in smaller amount from the FHLB; SVB some \$15 billion at the end of last year (it had none before), while Signature Bank had about 10% of its assets as FHLB advances for several years.
How do the Swiss central bank loans given to Credit Suisse compare with these US facilities, in terms of terms? Are they also short term like the discount window? (They've been called "liquidity assistance", in the press FTWT, but I wasn't able find much more than that.)
I managed to find a SNB presser:
based on the Federal Council’s Emergency Ordinance, Credit Suisse and UBS can obtain a liquidity assistance loan with privileged creditor status in bankruptcy for a total amount of up to CHF 100 billion.
Furthermore, and based on the Federal Council’s Emergency Ordinance, the SNB can grant Credit Suisse a liquidity assistance loan of up to CHF 100 billion backed by a federal default guarantee. The structure of the loan is based on the Public Liquidity Backstop (PLB), the key parameters of which were already decided by the Federal Council in 2022.
However, following the PLB keyword however didn't turn up all that much for me, insofar.
