I wrote on CoCos, again.

Under my pen-name “Martien Lubberink”, I wrote on CoCos, offering this part of the world a solution for mis selling them. I think my solution is superior than the ban of the FCA. See Let them eat CoCos?

EU consults on the impact of International Financial Reporting Standards (IFRS)

The European Commission is holding a public consultation to seek views from all interested parties on their experience of Regulation 1606/2002 (‘the IAS Regulation’). The results of this public consultation will feed into the European Commission’s evaluation of the IAS Regulation. This is a great initiative, and I encourage you to fill out the questionnaire. See… Read More EU consults on the impact of International Financial Reporting Standards (IFRS)

Caveat emptor? We should probably do more than tell banks how to sell CoCos.

Last week, the three European financial regulators warned financial institutions that they should tread carefully when it comes to marketing CoCos: capital securities that may convert or be written off when a bank gets into trouble. The warning may have been prompted by the failure of UK’s Co-operative bank or Dutch bank SNS. These failures bailed-in… Read More Caveat emptor? We should probably do more than tell banks how to sell CoCos.

State aid: EC approves resolution aid for Portuguese Banco Espírito Santo

For the record, from the EC press release: “The European Commission has found the resolution plan of the Portuguese Banco Espírito Santo S.A. (BES),including the creation of a Bridge Bank, to be in line with EU State aid rules. The measures notified by Portuguese authorities will allow the orderly resolution of the remaining bad bank… Read More State aid: EC approves resolution aid for Portuguese Banco Espírito Santo

Canada moves into bail-in territory

Good to see Canada responding to the Group of 20 (G-20) initiative made in the wake of the recent global financial crisis. Yesterday Finance Minister Joe Oliver launched a public consultation on bail-in for Canada’s domestic systemically important banks. Canada joins the jurisdictions that have incorporated bail powers into their resolution regimes, e.g. Denmark, the United Kingdom, Switzerland and… Read More Canada moves into bail-in territory