On Thursday, Credit Suisse announced measures to strengthen its liquidity by securing up to $54 billion from the Swiss National Bank. The decision followed a sharp 30% drop in the bank’s shares, raising concerns about the deposit crisis in the banking sector. Regulators and financial leaders temporarily stabilized markets following the collapse of Silicon Valley Bank (SVB) last week, but renewed concerns about Credit Suisse reignited concerns.

In a rackCredit Suisse said the additional liquidity would support its “core businesses and customers as Credit Suisse takes the necessary steps to create a simpler and more focused bank built around customer needs.”

Along with the loan from the Swiss National Bank, Credit Suisse said it bought back much of its debt to better manage debt and spending.

Credit Suisse, once a major player on Wall Street, has suffered compliance errors and other missteps, damaging its reputation with clients and investors. The bank launched a “radical” plan in October to revamp its business, including cutting 9,000 full-time jobs, privatizing its investment bank and focusing on asset management. CNN reports that analysts predict that the lender may need additional funds in 2023 to absorb potential losses.

Despite the market turmoil caused by the collapse of SVB and Signature Bank in the US, Credit Suisse CEO Ulrich Krner reported that the bank experienced “materially good inflows” of money on Monday.