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Credit Suisse shares Rally after it borrows big to boost liquidity. Plus,

Treasury Secretary Yellen prepares to defend the handling of the US banking crisis.

They are hopeful that they have put this fear of contagion to rest, at least for the time being.

And the US threatens a tick-tock ban. It's Thursday, March 16. I'm Luke Vargas with Wall Street

Journal and here's the AM edition of What's News. The top headlines and business stories moving your world today.

Troubled Lender Credit Suisse is getting a reprieve today after the bank overnight promised an

overhaul of its operations alongside plans to borrow more than $50 billion in order to address

liquidity concerns. The Swiss Lenders shares had tumbled yesterday as fears about the health of

global banks crossed the Atlantic. And while the firm has sought to describe its moves as preemptive

and aimed at delivering value to its clients, it's not yet clear whether all investors

necessarily share that view. Journal reporter Elliott Brown joins us now with an update on the

very latest at Credit Suisse. Elliott, let's get right to it. Tell us about the latest moves

that Credit Suisse has made here to address liquidity concerns and how the bank is characterizing

these moves. Basically, this problem-child bank of Europe has raised a huge amount of money

from the Swiss Central Bank in an attempt to give investors confidence that, hey, we've got a

lot of money. There is not a liquidity crisis here. And they're also buying back some of their bonds

that had been trading at super low levels. Again, it's a step to sort of show. No, no, no, like we're

going to be here. We're around for a while. And Elliott, what have Swiss regulators said about the

situation at the bank? They came out with a statement saying that they don't see contagion with

...