Regulators hope the takeover of Credit Suisse by UBS, and the Federal Reserve’s emergency US dollar liquidity lifeline delivered via five of the world’s largest central banks, will be enough to save the financial system from a repeat of the 2007-08 global financial crisis.

UBS agreed to buy the besieged 167-year-old Credit Suisse in a 3 billion Swiss francs ($4.5 billion) takeover on Monday AEDT after weekend talks between the Swiss giants ended in a regulator-mandated rescue that wiped out Credit Suisse’s hybrid holders.