Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1 (3 lettori)
- Creatore Discussione negusneg
- Data di Inizio
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- Tags
- additional tier 1 bail in basilea 3 coco bonds crd iv genussscheine grandfathering hybrid bond loss absorption lower tier 2 make whole amount matusalem bond obbligazioni irredimibili obbligazioni perpetue obbligazioni subordinate perpetual bond preference shares restricted tier 1 tier 1 upper tier 2
- Stato
Zorba
Bos 4 Mod
Mi è dispiaciuto essere uscito un po' troppo frettolosamente dalle portoghesi....
...se però non fossi uscito dalle portoghesi, non avrei ricaricato AIB a 23 e ripreso BOI a 63. Su cui ho deciso di rimanere in. Non ce l'avrei fatta a tenere PG + Eire + ciofecame vario (da cui sono uscito).
Mi sembra che tu abbia fatto un'ottima selezione per zoccolo duro
warren baffo
Forumer storico
oggi ho cliccato i banner Accenture e Cartaviva/Compass 
voi?
voi?
russiabond
Il mito, la leggenda.
oggi ho cliccato i banner Accenture e Cartaviva/Compass
voi?
Io ho mitragliato Accenture e LInear
e adesso Mitsubishi
Ultima modifica:
amorgos34
CHIAGNI & FOTTI SRL
Io ho mitragliato Accenture e LInear
e adesso Mitsubishi
Russia sei il solito esagerato
.Una clikkatina gliela ho data pure io.
Rottweiler
Forumer storico
I CoCos e Basilea 3
Da quando si sono cominciate e definire e quantificare le nuove norme, tutti gli osservatori hanno indicato che i CoCos sarebbe stati strumenti privilegiati. Ora sembra che il Comitato di Basilea li raccomanderà esplicitamente per le banche sistemiche, che saranno soggette a requisiti extra. Il tutto dovrebbe essere codificato tra marzo e giugno, secondo questo articolo di Bloomberg:
CoCos May Be Endorsed in Capital Rules for Systemic Banks
By Jim Brunsden
March 1 (Bloomberg) -- International regulators will next week consider allowing contingent convertible bonds to count toward additional capital requirements for systemically important banks whose failure would roil the global economy.
The Basel Committee on Banking Supervision will discuss the potential for so-called CoCo bonds to contribute to regulatory capital as an alternative to issuing shares or retaining more earnings, which banks say may stymie economic recovery by cutting their ability to lend.
The extra capital “has to be available to absorb losses before the bank fails, and obviously common equity meets fully that standard,” Stefan Walter, the Basel group’s secretary general, said in an interview ahead of the March 8-9 meeting of the committee. “We’re now also assessing CoCos and the possibility of this type of instrument fulfilling part of the loss-absorbency requirement.”
A global agreement by the Basel committee may expand the market for CoCos, following Credit Suisse Group AG’s sale of instruments worth $2 billion last month. A Swiss government- appointed panel recommended last year that Zurich-based Credit Suisse and UBS AG should hold as much as 9 percent of their risk-weighted capital in CoCos by 2019.
“It looks like Basel is taking a leaf out of the Swiss book,” Monika Mars, a director at PricewaterhouseCoopers AG in Zurich, said in a telephone interview. “Not necessarily for how much extra capital” systemically important financial firms, or SIFIs, must hold, she said, “but at least with the structure of how the SIFI surcharge is going to work.”
Tougher Rules
The Group of 20 nations agreed in November that lenders whose collapse would threaten the wider financial system should face tougher capital rules than other banks, increasing their ability to take losses without failing. The Basel committee has been tasked by the Financial Stability Board with drafting the requirements.
Regulators are examining “possible concrete minimum criteria that CoCos would have to fulfill,” to form part of the reserves, Walter said. “We’re already reviewing some preliminary proposals” next week, he said. “Much more concrete proposals” will then follow in June.
Lloyds Banking Group Plc, which was bailed out by the U.K. taxpayer, swapped existing notes for CoCos in November 2009, Bloomberg data show.
The possible use of CoCos only concerns additional rules for systemically important banks that go beyond capital and liquidity standards agreed on by the Basel group last year, Walter said.
Transparency Standards
The use of CoCos is “not being considered for the minimum requirement,” Walter said. “It’s really for the additional loss absorbency of SIFIs.”
Separately, the Basel committee will draw up standards requiring banks to disclose what instruments are included in their capital reserves, Walter said.
“All components of the capital base have to be fully transparent,” Walter said. Investors should be able to look at different banks’ “capital composition and compare them in terms of their capital structure, something that today is not possible.”
The Basel committee is also examining how to ensure that so-called shadow banks face similar rules to traditional lenders when they carry out the same kinds of activities, Walter said.
“What you don’t want is something which is bank-like and therefore could be susceptible to liquidity runs, deleveraging and contraction of credit, not being subject to any regulation, that I think is the biggest problem,” he said.
Examples of shadow banks include structured investment vehicles, credit hedge funds and money market mutual funds, the Federal Reserve Bank of New York said in a report last year.
Da quando si sono cominciate e definire e quantificare le nuove norme, tutti gli osservatori hanno indicato che i CoCos sarebbe stati strumenti privilegiati. Ora sembra che il Comitato di Basilea li raccomanderà esplicitamente per le banche sistemiche, che saranno soggette a requisiti extra. Il tutto dovrebbe essere codificato tra marzo e giugno, secondo questo articolo di Bloomberg:
CoCos May Be Endorsed in Capital Rules for Systemic Banks
By Jim Brunsden
March 1 (Bloomberg) -- International regulators will next week consider allowing contingent convertible bonds to count toward additional capital requirements for systemically important banks whose failure would roil the global economy.
The Basel Committee on Banking Supervision will discuss the potential for so-called CoCo bonds to contribute to regulatory capital as an alternative to issuing shares or retaining more earnings, which banks say may stymie economic recovery by cutting their ability to lend.
The extra capital “has to be available to absorb losses before the bank fails, and obviously common equity meets fully that standard,” Stefan Walter, the Basel group’s secretary general, said in an interview ahead of the March 8-9 meeting of the committee. “We’re now also assessing CoCos and the possibility of this type of instrument fulfilling part of the loss-absorbency requirement.”
A global agreement by the Basel committee may expand the market for CoCos, following Credit Suisse Group AG’s sale of instruments worth $2 billion last month. A Swiss government- appointed panel recommended last year that Zurich-based Credit Suisse and UBS AG should hold as much as 9 percent of their risk-weighted capital in CoCos by 2019.
“It looks like Basel is taking a leaf out of the Swiss book,” Monika Mars, a director at PricewaterhouseCoopers AG in Zurich, said in a telephone interview. “Not necessarily for how much extra capital” systemically important financial firms, or SIFIs, must hold, she said, “but at least with the structure of how the SIFI surcharge is going to work.”
Tougher Rules
The Group of 20 nations agreed in November that lenders whose collapse would threaten the wider financial system should face tougher capital rules than other banks, increasing their ability to take losses without failing. The Basel committee has been tasked by the Financial Stability Board with drafting the requirements.
Regulators are examining “possible concrete minimum criteria that CoCos would have to fulfill,” to form part of the reserves, Walter said. “We’re already reviewing some preliminary proposals” next week, he said. “Much more concrete proposals” will then follow in June.
Lloyds Banking Group Plc, which was bailed out by the U.K. taxpayer, swapped existing notes for CoCos in November 2009, Bloomberg data show.
The possible use of CoCos only concerns additional rules for systemically important banks that go beyond capital and liquidity standards agreed on by the Basel group last year, Walter said.
Transparency Standards
The use of CoCos is “not being considered for the minimum requirement,” Walter said. “It’s really for the additional loss absorbency of SIFIs.”
Separately, the Basel committee will draw up standards requiring banks to disclose what instruments are included in their capital reserves, Walter said.
“All components of the capital base have to be fully transparent,” Walter said. Investors should be able to look at different banks’ “capital composition and compare them in terms of their capital structure, something that today is not possible.”
The Basel committee is also examining how to ensure that so-called shadow banks face similar rules to traditional lenders when they carry out the same kinds of activities, Walter said.
“What you don’t want is something which is bank-like and therefore could be susceptible to liquidity runs, deleveraging and contraction of credit, not being subject to any regulation, that I think is the biggest problem,” he said.
Examples of shadow banks include structured investment vehicles, credit hedge funds and money market mutual funds, the Federal Reserve Bank of New York said in a report last year.
fabriziof
Forumer storico
presa lo scorso mese a 83,5.
fabriziof
Forumer storico
la depfa lt2 XS0229524128 la prenderesti in considerazione?
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