After UBS announced its acquisition of Credit Suisse, regulators in Singapore and Hong Kong issued separate statements on Sunday (March 19), saying that Credit Suisse's business in both countries was not disrupted and continued to operate normally.

Credit Suisse's operations in Hong Kong include a Credit Suisse Hong Kong branch regulated by the Hong Kong Monetary Authority (HKMA) and two licensed corporations regulated by the Hong Kong Securities and Futures Commission (SFC). SFC said in a statement that local Credit Suisse business would continue as usual and customers could continue to make deposits and withdrawals through the branch, as well as trade Hong Kong equities and derivatives using trading services provided by Credit Suisse.

The regulator believes Credit Suisse has little impact on Hong Kong's capital markets.

"With total assets of about HK $100bn, Credit Suisse's Hong Kong branch accounts for less than 0.5 per cent of total banking assets in Hong Kong, and the local banking sector's exposure to Credit Suisse is negligible," it explained in its statement. "In addition, Credit Suisse's licensed corporations are not among the top 10 active brokers in the local stock market and derivatives markets. At the end of February 2023, Credit Suisse was the ninth largest listed structured product issuer in Hong Kong, accounting for approximately 4% of the total market capitalisation of units outstanding. Overall, they do not pose a significant risk to the Hong Kong market."

The Monetary Authority of Singapore (MAS) also issued a statement on the same day, saying that Credit Suisse will continue to conduct business in Singapore without any interference or restriction.

"Credit Suisse customers will continue to have full access to their accounts and Credit Suisse's contracts with its counterparties remain in force," MAS said.

Both regulators said they would closely monitor and monitor the local and international financial markets to ensure the stability of the local financial system and the orderly operation of the financial markets.