Regulators affirm stability of Asia's banking system post UBS-Credit Suisse takeover.

Regulators in Asia have issued statements reassuring the public that their banking systems remain robust and stable after Swiss banking giant UBS agreed to buy its rival Credit Suisse for $3.25bn. Hong Kong, Singapore, Japan, and Australia have all stated that the takeover will not have a significant impact on their banking systems. Credit Suisse's operations in Hong Kong and Singapore will continue as usual, and the exposures of the local banking sector to Credit Suisse are insignificant.