Credit Switzerland announced it will borrow up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a secured loan facility and a short-term liquidity facility.

The decision comes shortly after shares of the lender fell sharply on Wednesday, hitting an all-time low for a second straight day after top investor Saudi National Bank said it will be unable to provide further assistance.

The latest steps will “support Credit Suisse’s core businesses and customers as Credit Suisse takes the necessary steps to create a simpler and more focused bank built around customer needs,” the company said in an announcement.

In addition, the bank is making a cash offer for ten US dollar-denominated senior debt securities for an aggregate amount of up to $2.5 billion – as well as a separate offer for four euro-denominated senior debt securities for an aggregate amount of up to $500. million euros, the company said.

“These actions demonstrate decisive action to strengthen Credit Suisse as we continue our strategic transformation to deliver value to our customers and other stakeholders,” said Ulrich Koerner, CEO of Credit Suisse.

“We thank the SNB and FINMA in executing our strategic transformation,” he said, referring to the Swiss financial market regulator.

“My team and I are committed to moving forward quickly to create a simpler and more focused bank built around customer needs.”

US futures rose, with the Dow Jones Industrial Average futures are up more than 100 points after the announcement. S&P 500 futures also rose 0.45% and Nasdaq 100 futures climbed 0.54%.

Saudi National Bank told CNBC that Credit Suisse has not asked for financial help and that Wednesday’s panic was unfounded.

“There have been no discussions with Credit Suisse about providing assistance,” said Ammar Al Khudairy, chairman of Saudi National Bank, Credit Suisse’s largest shareholder.

“I don’t know where the word ‘help’ comes from, there hasn’t been any discussion since October,” he told CNBC’s Hadley Gamble.

He added that the latest market turmoil in the banking sector is “isolated” and stems from “a little bit of panic”.

“If you look at how the entire banking industry has gone down, unfortunately a lot of people were just looking for excuses… it’s a panic, a little panic,” he said on CNBC’s “Capital Connection.”

In the wake of the Credit Suisse saga, Tabbush Report founder Daniel Tabbush stressed that a broader concern for the banking industry is trust.

“The obvious problem is restoring confidence and stopping the deposit flight, which may have been addressed in whole or in part by the central bank,” he told CNBC’s “Street Signs Asia.”

“But what’s more difficult is not simply controlling the issues, but how this permeates across so many interconnected banks, where there are Credit Swiss contracts — where there are derivatives, where there are facilities — which is really the next order problem . ” he said.

Banks in Asia-Pacific also recouped some earlier losses – Japan’s Topix previously tumbled more than 2% and most recently was down 1.4%.

The Commonwealth Bank of Australia offset most of its losses in volatile trading – it traded 0.15% lower after an earlier drop of as much as 1.97%. Westpac banking And National Australian Bank fell 2.35% and 1.81% respectively before erasing some declines. They were last down 1.34% and 0.58% respectively.

Some South Korean banks also fell as much as 2% before partially reversing the declines.

The Swiss Franc remained volatile after the announcement, rising 0.17% against the US dollar to 0.9315. The Japanese Yen also further strengthened to trade at 132.86 against the dollar.

Earlier this week, Credit Suisse Chairman Axel Lehmann told CNBC’s Hadley Gamble that Silicon Valley Bank’s recent collapse is “local and controlled.”

When asked if he would rule out any kind of government support in the future, Lehmann said, “We’re regulated, we have strong capital ratios, a very strong balance sheet. We’re all hands on deck. So that’s not the point at all.”

– CNBC’s Lim Hui Jie contributed to this report.