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

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.