ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Finance

Credit Suisse's AT1 bond write-off rattles Asian investors

Terms of UBS acquisition of peer could have broader implications for region

The UBS acquisition of Credit Suisse includes the write-off of about 16 billion Swiss francs ($17.2 billion) in AT1 bonds, a decision made by the Swiss Financial Market Supervisory Authority.   © AP

HONG KONG -- The acquisition of Credit Suisse by compatriot UBS has dealt a fresh blow to Asian banks and investors already reeling from the collapse of Silicon Valley Bank in the U.S. earlier this month.

A rescue plan for Credit Suisse engineered by the Swiss financial regulator was announced just hours before the opening of trading in Asia on Monday, followed by a concerted action from six central banks to enhance U.S. dollar liquidity.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more