Single Resolution Board chair adamant Brussels will not take investors in bank debt ‘by surprise’
A senior EU policymaker has pledged not to wrongfoot investors by upending bank creditor hierarchies, after a market uproar at Switzerland’s decision to favour shareholders over bondholders in the rescue takeover of Credit Suisse. Dominique Laboureix, chair of the Single Resolution Board, the body in charge of shutting down failed banks, said fears that additional tier 1 (AT1) bank debt is “not investable anymore” should not apply in the EU. [Keep reading on the FT website...]
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