Banking giant Credit Suisse said Thursday it will borrow $54 billion from Switzerland’s central bank, the latest move by authorities to calm investors and ease mounting fears of a global banking crisis.

The move to shore up Switzerland’s second-largest commercial bank saw its shares soar as markets reacted well in Europe and the United States. It was a marked reversal on a day earlier, when Credit Suisse shares slumped and intensified fears of a possible run on bank deposits after the collapse of two U.S. banks last week.

“These measures demonstrate decisive action to strengthen Credit Suisse as we continue our strategic transformation to deliver value to our clients and other stakeholders,” CEO Ulrich Koerner said in a statement that was published in the middle of the night in Zurich.