For the record, the FSB TLAC proposal

This week, the FSB announced its TLAC term sheet. The FSB did not really water down the original proposal, except for the concession that helps European banks with subsidiaries abroad – but that was announced…

UPDATE 2: The EBA’s laudable effort to tame Additional Tier 1 issuances

This week, the EBA held a public hearing on the 4 May report on AT1 issuances, see my previous posts on this. Click here for the PowerPoint that the EBA prepared. Apparently no surprises. On…

Jay! A public radio station in the Netherlands gave me some air-time to discuss CoCos

A Dutch public radio station asked me to comment on Contingent Convertible capital (in Dutch). My comments were in line with previous posts on CoCos: they tend to end in tears. Thanks Stefan Heijdendael, the…

TLAC is the new name of the game.

The Financial Stability Board presented this consultation paper on Total Loss-Absorbing Capacity (TLAC) for global systemic banks. The agreement is “a watershed in ending ‘too-big-to-fail’ for banks,” said Mark Carney, the governor of the Bank of…