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News Link • Business/ Commerce

Credit Suisse Played Role In The Collapse Of Portugal's Second-Largest Bank

• Business Insider

In the article in its online edition, the newspaper cited corporate filings and people familiar with the situation, saying customers didn't know the investment vehicles were loaded with debt issued by various Espirito Santo companies and served as a mechanism to finance the Portuguese conglomerate.

Credit Suisse was not immediately available for comment when contacted by Reuters in Switzerland. said representatives of Credit Suisse and Espirito Santo declined to comment on the story.

Troubled Banco Espirito Santo is Portugal's second largest bank. The Portuguese government said it will extend a loan of 3.9 billion euros ($5.2 billion) to the bank resolution fund in charge of rescuing Banco Espirito Santo.

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