The Swiss finance minister has said that Credit Suisse has repaid the liquidity it borrowed following the bank’s spectacular collapse earlier this year.

Credit Suisse, the second-largest bank in Switzerland, collapsed in March when its stock nosedived and its largest backer, Saudi National Bank, said it would not provide any additional funds.

The bank was subsequently acquired by domestic rival UBS for little more than $3 billion, with regulatory authorities allowing the emergency takeover without the shareholder approval of either entity.

To facilitate the takeover, Credit Suisse was given access to over CHF200 billion in liquidity stock, with half of that total backed by the government.

In comments to broadcaster SRF, Swiss finance minister Karin Keller-Sutte confirm that the money had been repaid, saying: "The federal guarantees, the 100 billion, have been repaid as of yesterday (Tuesday).”

Credit Suisse had previously disclosed in its last quarterly earnings in April that "the net amount of borrowings under these facilities amounted to 108 billion Swiss francs."

But while the bank will look to stabilise under its new owners, Reuters has reported that hundreds of staff are resigning each week, with bankers worried about their future and seeking safer employment at their rivals. An earlier report from Swiss newspaper Blick said that each day around 150 people worldwide were resigning from the bank.

UBS has said that it plans to make significant cuts to Credit Suisse's investment bank, which is currently made up of around 17,000 staff.

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