Credit Suisse has announced that it will borrow up to 50 billion Swiss francs from the Swiss central bank to shore up its finances.
This has sparked heavy declines in Asian shares, as fears of a wider banking crisis increased.
The bank's share price fell 24% on Wednesday after it revealed "weakness" in its financial reporting.
Despite the steep falls in Asian markets, European markets are expected to open higher.
Credit Suisse has revealed that it will borrow up to 50 billion Swiss francs from the Swiss central bank, in order to bolster its finances.
The announcement comes after a turbulent week for the bank, which saw significant falls in its share price after revealing "weakness" in its financial reporting.
The bank saw steep declines of 24%, prompting fears of a wider banking crisis across the sector.
The announcement on borrowing came in response to these concerns.
The bank's troubles have sparked heavy declines in Asian shares, which fell by over 1%, while Japan's Nikkei 225 saw almost a 1% decline.
There have been fears of contagion across the sector, with the Silicon Valley Bank collapse in the US adding to the increasing global anxiety.
However, despite the falls in Asian markets, European shares are being expected to open higher.
The Financial Times expects the Swiss National Bank's move to lend Credit Suisse up to CHF50bn ($56bn) to quash concerns Credit Suisse could collapse.
Credit Suisse said in a statement that it was "working to restore confidence" and it had taken "decisive action" to shore up its business.
Furthermore, a move by Britain's Financial Conduct Authority (FCA) to monitor Credit Suisse and the Swiss authorities have further allayed some concerns but a number of analysts worry the incident is the beginning of a wider sell-off that could affect markets globally.