UBS has completed its more than $3 billion takeover of Credit Suisse to create a finance giant with a balance sheet of $1.6 trillion in the biggest banking deal since the 2008 financial crisis.

The takeover, in which Swiss National Bank (SNB) reportedly also provided UBS with a $100 billion line of liquidity, was facilitated by the Swiss Confederation and Switzerland’s central bank after Credit Suisse’s near-collapse in March.

With the takeover now completed, UBS is reportedly imposing several “red lines” on Credit Suisse bankers, according to the Financial Times.

UBS chair Colm Kelleher previously said UBS held concerns over “cultural contamination” once the merger completed.

Sources told the newspaper that UBS executives have crafted a list of “more than a dozen” prohibitions on Credit Suisse bankers, including a ban on them accepting new clients from ‘high-risk’ countries such as Russia and Libya and on complex financial products.

Credit Suisse’s failure was propelled by the collapse of Silicon Valley Bank, which sent shockwaves through the global finance ecosystem and intensified a recent “crisis of confidence” at the bank.

At the time of its unwinding, Credit Suisse was being probed by the Securities and Exchange Commission after “material weaknesses” were found in its financial statements.

The Swiss Financial Market Supervisory Authority (FINMA) said at the time there was a risk of Credit Suisse “becoming illiquid, even if it remained solvent” and concluded it was necessary for authorities to step in and take action to avoid “serious damage to the Swiss and international financial markets.”

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