European markets are set to rally at the open Thursday after the Swiss National Bank said it would provide additional liquidity to Credit Suisse.
The chairman of Credit Suisse's largest shareholder, Saudi National Bank, told CNBC's Hadley Gamble that the recent market turmoil in the banking sector is "isolated" and stems from "a little bit of panic."
"If you look at how the entire banking sector has dropped, unfortunately, a lot of people were just looking for excuses ... it's panic, a little bit of panic," Ammar Al Khudairy said on CNBC's "Capital Connection.""There has been no discussions with Credit Suisse about providing assistance," he said. "I don't know where the word 'assistance' came from, there has been no discussions whatsoever since October," he said.
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