(Bloomberg) -- Credit Suisse AG has taken another page out of the Deutsche Bank AG playbook by offering to buy back some of its debt in an effort to calm investor nerves.

The Swiss lender’s offer on Friday morning to purchase up to $3 billion of its own debt mirrors a move by its German rival in early 2016, Barclays analysts led by Amit Goel said in a research note. At the time, Deutsche Bank sought to buy back as much as $5.4 billion euros, displaying confidence in its liquidity position. 

The Credit Suisse announcement on Friday drove shares up by as much as 8.85% while the Deutsche Bank move lifted the stock 12% at the time. 

Credit Suisse Chief Executive Officer Ulrich Koerner is weeks away from unveiling a restructuring that potentially involves deep cuts to the investment bank, asset sales and thousands of job cuts. Credit Suisse’s string of missteps and sinking stock price this year have prompted parallels with the situation Deutsche Bank faced six years ago -- a downward spiral of bad news seemingly impossible to emerge from. 

“We fear a negative feedback loop is now engulfing Credit Suisse,” KBW analysts led by Tom Hallet said in a note last week. The analysts estimated that Credit Suisse would need to raise about 4 billion Swiss francs from investors to break the cycle. 

Credit Suisse’s reactions to the worsening crisis also recall moves by Deutsche Bank, including replacing large swathes of management, paying retention bonuses to keep critical staff, and planning a large-scale overhaul after an early, smaller one failed. 

The announcement by Deutsche Bank in early 2016 to buy back debt soothed the markets -- but the relief evaporated after less than a month as the crisis continued to deepen. A year later, then-CEO John Cryan reneged on his promise not to raise fresh capital and tapped investors for $8.5 billion. 

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