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

Today, the EBA held a public hearing on the 4 May report on AT1 issuances, see my previous post on this. Click here for the PowerPoint that the EBA prepared.

Apparently no surprises. On the hot topic of Contingent Clauses, the EBA reports that it “confirms its previous reserves, and recommends disallowing contingent clauses”.

A recommendation, … fair enough.