This item was viewed 24 times

Euro zone regulators back debt hierarchy after write-off in CS bonds

  • Check with seller
  • Published date: April 10, 2023
    • United States
Euro zone regulators back debt hierarchy after write-off in CS bonds
Euro zone regulators back debt hierarchy after write-off in CS bonds

Euro zone regulators have backed the current hierarchy of debt if a bank in the region fails, as they look to soothe market jitters that partly stem from a decision by Swiss authorities to write off a riskier class of bonds in Credit Suisse Group AG (SIX:CSGN).

In a joint statement, the EU’s Single Resolution Board, the European Banking Authority, and ECB Banking Supervision said they “welcomed” the move by their Swiss counterparts, saying it helps “ensure financial stability.”

The Swiss financial regulator Finma ordered that $17 billion worth of so-called Additional Tier 1 debt in Credit Suisse be wiped out as part of the troubled lender’s government-brokered merger with larger rival UBS Group AG (SIX:UBSG) over the weekend. Credit Suisse shareholders, however, will still receive some compensation for their stock.

Read More : https://iqxtrade.com/euro-zone-regulators-back-debt-hierarchy-after-write-off-in-cs-bonds/

Visit Our Website : https://iqxtrade.com/

Useful information

  • Avoid scams by acting locally or paying with PayPal
  • Never pay with Western Union, Moneygram or other anonymous payment services
  • Don't buy or sell outside of your country. Don't accept cashier cheques from outside your country
  • This site is never involved in any transaction, and does not handle payments, shipping, guarantee transactions, provide escrow services, or offer "buyer protection" or "seller certification"

Related listings