Category: CRD IV

EBA offers the – wicked – prospect of standard terms and conditions for CoCos.

Today the EBA published the final version of its updated report on the monitoring of Additional Tier 1 capital instruments. Regarding the most controversial issue, the use of contingent clauses, the report recommends disallowing them in the terms and conditions of EU issuances. The output of EBA’s own funds subgroup invariantly meets the highest quality… Read More EBA offers the – wicked – prospect of standard terms and conditions for CoCos.

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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 the hot topic of Contingent Clauses, the EBA reports that it “confirms its previous reserves, and recommends disallowing contingent clauses”.… Read More UPDATE 2: The EBA’s laudable effort to tame Additional Tier 1 issuances

@cetier1