UBS takeover of Credit Suisse sparks market decline and bailout controversy.

Asia-Pacific markets mostly fell after UBS agreed to buy Credit Suisse in a $3.2 billion takeover. The U.S. Federal Reserve and five other central banks have jointly announced to increase the frequency of their U.S. dollar swap line arrangements from weekly to daily. The FDIC announced a deal to sell "substantially all deposits and certain loan portfolios" of Signature Bank to Flagstar Bank. UBS finalized an agreement to buy Credit Suisse for $3.2 billion. The Federal Reserve's decision on whether to raise interest rates by 25 basis points or implement no rate hike at next week's policy meeting could depend on what happens in the coming days.