After a historic Swiss-backed acquisition of Credit Suisse and a concerted action by global central banks to avoid a financial catastrophe, Asian authorities calmed investor worries on Monday.

Hirokazu Matsuno, Japan’s senior cabinet secretary, assured investors that the country’s banking system was solid and that financial stress from the U.S. and Europe would not spread.

He also applauded Sunday’s move by top central banks, including the BOJ, to widen a swap line to guarantee lenders had enough dollars to function.

UBS Group AG (UBSG.S) paid 3 billion Swiss francs ($3.2 billion) for 167-year-old Credit Suisse Group AG (CSGN.S) and assumed up to $5.4 billion in losses. Swiss regulators negotiated.

MSCI’s broadest Asian share index (.MIAP00000PUS) fell 1.4%, and European stock futures fell 0.4% to 0.6%. Bank shares fell despite regulators’ two measures to reduce contagion worries.

Japanese officials said domestic banks had enough capital buffers to withstand foreign risks, including U.S. loan failures.

RBA Deputy Governor Christopher Kent said stricter liquidity and capital requirements had strengthened the global banking sector.

“What we are talking about here is a few institutions that were badly managed and did not achieve the higher criteria that have been imposed on practically all banks internationally and on Australian banks,” he said of troubled foreign banks.

The Monetary Authority of Singapore (MAS) claimed the takeover would not affect Singapore’s banking sector. MAS said Credit Suisse would operate freely in the city-state.

“MAS will continue in regular touch with FINMA, CS and UBS until the transaction is conducted, to promote an orderly transition, including addressing any impact on employment,” the central bank stated.

Credit Suisse’s Hong Kong operations will continue as usual, with clients able to access their money, according to the Securities and Futures Commission and the de facto central bank.

Huang Tien-mu, Taiwan’s Financial Supervisory Commission head, was wary.

After UBS acquired Credit Suisse and took massive central bank steps to rebuild trust, he informed parliament that “the crisis is gone” was still unconfirmed.

Huang said he trusted Taiwan’s financial industry but was watching overseas financial markets.