Credit Suisse is banning the trading and use of Venezuelan bonds, as the political crisis in the South American country escalates.
The bank will not trade, nor accept as collateral, two specific types of Venezuelan securities as well as any bonds the country issued from June 1 going forward, according to a company spokeswoman who was not authorized to give her name. Further, any businesses who wish to do business with Venezuela and deal in any assets there will have to go through additional screening.
The ban comes as the U.S. considers imposing economic sanctions against the government of President Nicolas Maduro, who is facing mounting international criticism over a crackdown on opponents and moves to consolidate power.
The Trump administration has sanctioned 30 government loyalists since April.