The Swiss National Bank (SNB) is closely monitoring the situation at Credit Suisse, SNB board member Andrea Maechler told Reuters on Wednesday. Switzerland’s second-largest bank saw its shares fall a whopping 11.5% on Monday and its bonds hit a record low, before making up for some of the losses, amid concerns about its ability to restructure its operations without asking investors for more money. “We are monitoring the situation,” said Maechler on the sidelines of an event in Zurich. “They are working on a strategy that should come out by the end of October.” The SNB has in the past refused to comment on Credit Suisse, which it says has a strong capital base and liquidity. On October 27, it will announce the details of a restructuring plan, along with results for the third quarter. In July, Credit Suisse announced its second strategy review in a year and replaced its chief executive. In doing so, restructuring expert Ulrich Koerner was attracted to prune the investment banking branch and save more than $1 billion in costs. The bank is considering measures to reduce its investment bank to a “low-capital, advisory” company and is evaluating strategic options for its securitised Product Business, Credit Suisse said.