Category: Banking

Swiss National Bank to give Credit Suisse financial support ‘if necessary’ – The Washington Post

Swiss National Bank to give Credit Suisse financial support ‘if necessary’ – The Washington Post

Breaking: Swiss National Bank offers support to Credit Suisse Potentially good news though troubling that such an announcement was necessary. I would note that Credit Suisse’s assets are about equal to the GDP of Switzerland. Not apples to apples but rather an indication of potential limits to SNB support for CS. https://www.washingtonpost.com/business/2023/03/15/svb-banking-credit-suisse-stocks/

Paycheck Protection Program data released by Small Business Administration after lawsuit shows largest borrowers – The Washington Post

Paycheck Protection Program data released by Small Business Administration after lawsuit shows largest borrowers – The Washington Post

No surprise here. The definition of small business was allowed to be defined at the location level for large chains. Hence as long as a chain didn’t employ more than 500 at a restaurant, each location  was deemed a small business. And for many, the PPP became a creative game of managing payroll to maximize …

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