Financial authorities in Asia have moved to downplay the local fallout of the turmoil at Credit Suisse, saying they do not expect the takeover of the troubled Swiss bank to affect the stability of local lenders.
The Monetary Authority of Singapore (MAS) said on Monday that Credit Suisse would operate as normal in the city-state, with customers having full access to other accounts, following the lender’s purchase by UBS Group over the weekend.
