How the 2023 banking crisis unfolded

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March 24 (Reuters) – Global banks are staring at the biggest crisis since 2008 after two U.S. lenders collapsed, Switzerland’s Credit Suisse (CSGN.S) sought a government lifeline and America’s top banks agreed to offer a $30 billion rescue deal – all in the space of 10 days.

The turmoil has ratcheted up fears of a contagion and prompted action from the U.S. Federal Reserve, U.S. Treasury and the private sector, but it remains to be seen whether that will be enough to contain the damage.

Below is a timeline of key events:

Sources: company statements, press conferences, sources, media reports

Reporting by Mehnaz Yasmin amd Manya Saini in Bengaluru; Editing by Devika Syamnath

Our Standards: The Thomson Reuters Trust Principles.

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