Falling shares of an international banking giant point to a new banking crisis, experts told CNBC.

Shares of Credit Suisse fell almost 10 percent in U.S. trading Thursday to $18. That's under the low reached during the financial crisis in 2008 and 2009.

Although stock markets were up Thursday, the Credit Suisse price drop underscores the depth of the eurozone banking crisis, according to CNBC.

The situation might even be worse than in 2008, Enis Taner, global macro editor at Risk Reversal.com told CNBC.

“Most market participants I talk to continue to underestimate the importance of the European banking system to global asset markets,” Taner says, according to CNBC.

"European bank balance sheets are more than twice the size of U.S. bank balance sheets and given that the current crisis in Europe is at its root a banking crisis, the situation is potentially more concerning than 2008.”

The Swiss Central Bank said the financial services giant, which has offices in 46 countries, must increase its capital reserves.

Credit Suise may need another 11.5 billion Swiss francs of cushion, Kepler Capital Markets analyst Dirk Becker, wrote in a note to clients, according to CNBC.

UBS, another Swiss banking giant, should add eight billion to its capital reserves. Although the bank should be able to fill the shortfall within the seven-year deadline, the SCB's order shows it's nervous about the crisis, Becker says.

U.S. banks will be in trouble if the crisis prompts a credit freeze and borrowing costs jump across the board, according to CNBC.

“There is another huge leg down coming in the U.S. financials,” Peter Schiff of Euro Pacific Capital told CNBC. “In fact, once U.S interest rates rise similar to what is happening in Europe, the fallout for the banks will be worse than 2008.”

The SCB criticism of Credit Suisse is harsh, according to Reuters. It wants the bank to reduce risk, restrict dividends, or issue new equity this year.

Singling out one bank for criticism may seem reckless for a central bank, but the SCB is worried that a euro collapse might devastate the baking giant seen as too big to rescue.