The fall followed the takeover of Credit Suisse by UBS. Photo: RNZ / Angus Dreaver
Shares in the New Zealand market closed on the day's lows - in line with weakness in other markets in Asia Pacific.
The NZX Top 50 Index fell 1.4 percent following a takeover of the troubled global bank Credit Suisse by rival Swiss bank UBS over the weekend.
The deal, brokered by Swiss authorities, was the first rescue of a global bank since the financial crisis of 2008 and followed the recent collapse of Silicon Valley Bank and Signature Bank in the United States.
Credit Suisse's banking operations appeared to be running business as usual at its major offices in Asia on Monday.
Monetary authorities in Singapore and Hong Kong, where Credit Suisse hosts large regional offices, separately said the Swiss bank's business continued without interruption.
The Federal Reserve also joined with central banks in Canada, England, Japan, the EU and Switzerland to ensure markets have enough money to function.