Credit Suisse (NYSE:CS) stock is climbing in early trading after the troubled Swiss bank obtained a hefty $54 billion of line credit from Switzerland’s central bank.

On the news, CS stock was soaring 25% in afternoon trading in Switzerland. Still, the bank’s shares were only up 3% in New York, underscoring the Street’s higher fear about financial institutions in general and Credit Suisse in particular.

A “Bazooka” Is Deployed

Several Wall Street analysts said that the Swiss National Bank employed “a bazooka,” i.e., a massive amount of money, to restore confidence in Credit Suisse.

For example, JPMorgan analyst Roberto Henriques stated that the “central bank bazooka” obtained by CS would calm investors worried about the bank’s fate and give the company enough breathing room to launch a new comeback plan.

And the chairman of the Swiss bank’s largest investor, Saudi National Bank, told CNBC that he doesn’t think CS will need additional funds.

On the other hand, Beat Wittmann, chairman of Switzerland’s Porta Advisors, said that investors should question “the viability of the (bank’s) business model.”

The Swiss central bank explained that it had provided the loan to Credit Suisse because it is one of the “systemically important banks.”

CS Stock: Material Weaknesses

CS shares have hit record lows and sparked a selloff in European bank stocks after the company disclosed “material weaknesses” in its financial controls.

As I reported yesterday, “the bank… indicated that its reporting errors related to its categorization of ‘noncash items,’ and it maintained that its results ‘can be relied upon by investors to gauge its performance and overall status.'”

On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.