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The central banks of both jurisdictions have issued statements on the back of Credit Suisse’s merger with UBS that saw $17 billion in AT1 bonds wiped out.
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Some of the biggest names in investing held Credit Suisse's AT1 bonds, which were marked down to zero by the Swiss regulator a week ago.
The deal exposes the risks associated with the high yield securities and is likely to make bank borrowing through bonds more expensive in the short term.
The writing down to zero of Credit Suisse’s riskiest bonds worth US$17 billion is expected to adversely impact the AT1 bond segment, but Asia-Pacific banks are better protected by more supportive local authorities, analysts say.