Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1 (9 lettori)
- Creatore Discussione negusneg
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- 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
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youngsword
Nuovo forumer
mi unisco ai saluti e auguri di una buona e serena Pasqua
See you on Tuesday
young
Topgun1976
Guest
Tutte le Obbligazioni staccano 3 giorni lav prima ,si capisce che questi di Bawag sono speciali
Zorba
Bos 4 Mod
UPDATE: Irish Fin Min Presses Burden Sharing On Allied Irish Banks
(Updates with details in the third paragraph and more details and background beginning in the sixth paragraph.)
By Eamon Quinn
Of DOW JONES NEWSWIRES
DUBLIN (Dow Jones)--The Irish finance minister said Friday he is committed to persuading burden sharing on holders of subordinated bank bond debt of Allied Irish Banks PLC (AIB) and called legal challenges to his new legal powers as "entirely unfounded."
Michael Noonan said in a statement that two subordinated bond holders had challenged the legal powers the Dublin High Court granted the government earlier this month. The High Court order effectively gave the government the power to persuade and then, if necessary, force losses on AIB subordinated bond holders.
AIB, which is now almost totally nationalized, is one of six Irish lenders that have been kept alive since the Irish banking crisis began in 2008 after receiving both huge amounts of government aid and a government guarantee of their senior bank bond debt and deposits. The new coalition government that took power last month has signaled it will force losses on AIB subordinated debt holders, and possibly on those at other lenders, if they don't voluntarily agree to do so first.
"Two challenges from subordinated bond holders have been received. The Minister considers that these challenges are entirely unfounded. They will be dealt with by the High Court in due course," Noonan said.
"The government remains fully committed to its previously stated goal of burden sharing with subordinated bond holders, ideally in a market based manner, as part of the overall process of recapitalization of the banks."
AIB subordinated bonds were trading this week at levels that suggest many bond holders expect haircuts of up to 80% on their holdings. Analysts say Bank of Ireland subordinated bonds were trading at much higher levels, suggesting bond holders expect some sort of equity-for-debt offer as BoI seeks to raise more private capital in the coming months.
There are EUR6.94 billion outstanding subordinated bonds in six lenders guaranteed by the Irish government, according to Irish central bank figures published this month. That includes EUR2.6 billion in subordinated bonds at AIB and EUR2.75 billion at BoI.
Noonan was appointed to the new Irish coalition government, led by Enda Kenny, that fought elections on pressing for burden sharing with bank bond holders on Ireland's huge banking debts. The Irish government has to date injected over EUR46 billion in capital into its broken lenders and will likely be on the hook for most of the EUR24 billion the Irish central bank says four banks will need to cover more loan losses over the next three years.
The Irish government says it wants voluntarily to persuade and then, if necessary, use its new legal order to force losses on AIB's subordinated bond holders. The implicit threat is that the its new legal order could be extended to other banks.
Noonan said last month that the European Central Bank had prevented the government from discussing the possibility of extending burden sharing to senior bond holders because such losses could both undermine Irish and other European banks.
The ECB provides huge amounts of short-term loans that helps keep the Irish banks open.
However, the new government said it may still argue, under certain circumstances, for burden sharing with holders of senior bank bond debt in Anglo Irish Bank Corporation and Irish Nationwide Building Society, two defunct scandal-ridden lenders that were most culpable for reckless lending to property developers during the country's boom years.
The cost of saving the banks helped force Ireland into accepting EUR67.5 billion in expensive bailout loans from the European Union and the International Monetary Fund last November when markets refused to lend the country and its banks more money.
*.*.*
Chissà come andrà a finire... ?
(Updates with details in the third paragraph and more details and background beginning in the sixth paragraph.)
By Eamon Quinn
Of DOW JONES NEWSWIRES
DUBLIN (Dow Jones)--The Irish finance minister said Friday he is committed to persuading burden sharing on holders of subordinated bank bond debt of Allied Irish Banks PLC (AIB) and called legal challenges to his new legal powers as "entirely unfounded."
Michael Noonan said in a statement that two subordinated bond holders had challenged the legal powers the Dublin High Court granted the government earlier this month. The High Court order effectively gave the government the power to persuade and then, if necessary, force losses on AIB subordinated bond holders.
AIB, which is now almost totally nationalized, is one of six Irish lenders that have been kept alive since the Irish banking crisis began in 2008 after receiving both huge amounts of government aid and a government guarantee of their senior bank bond debt and deposits. The new coalition government that took power last month has signaled it will force losses on AIB subordinated debt holders, and possibly on those at other lenders, if they don't voluntarily agree to do so first.
"Two challenges from subordinated bond holders have been received. The Minister considers that these challenges are entirely unfounded. They will be dealt with by the High Court in due course," Noonan said.
"The government remains fully committed to its previously stated goal of burden sharing with subordinated bond holders, ideally in a market based manner, as part of the overall process of recapitalization of the banks."
AIB subordinated bonds were trading this week at levels that suggest many bond holders expect haircuts of up to 80% on their holdings. Analysts say Bank of Ireland subordinated bonds were trading at much higher levels, suggesting bond holders expect some sort of equity-for-debt offer as BoI seeks to raise more private capital in the coming months.
There are EUR6.94 billion outstanding subordinated bonds in six lenders guaranteed by the Irish government, according to Irish central bank figures published this month. That includes EUR2.6 billion in subordinated bonds at AIB and EUR2.75 billion at BoI.
Noonan was appointed to the new Irish coalition government, led by Enda Kenny, that fought elections on pressing for burden sharing with bank bond holders on Ireland's huge banking debts. The Irish government has to date injected over EUR46 billion in capital into its broken lenders and will likely be on the hook for most of the EUR24 billion the Irish central bank says four banks will need to cover more loan losses over the next three years.
The Irish government says it wants voluntarily to persuade and then, if necessary, use its new legal order to force losses on AIB's subordinated bond holders. The implicit threat is that the its new legal order could be extended to other banks.
Noonan said last month that the European Central Bank had prevented the government from discussing the possibility of extending burden sharing to senior bond holders because such losses could both undermine Irish and other European banks.
The ECB provides huge amounts of short-term loans that helps keep the Irish banks open.
However, the new government said it may still argue, under certain circumstances, for burden sharing with holders of senior bank bond debt in Anglo Irish Bank Corporation and Irish Nationwide Building Society, two defunct scandal-ridden lenders that were most culpable for reckless lending to property developers during the country's boom years.
The cost of saving the banks helped force Ireland into accepting EUR67.5 billion in expensive bailout loans from the European Union and the International Monetary Fund last November when markets refused to lend the country and its banks more money.
*.*.*
Chissà come andrà a finire... ?
no perpetual no party
Forumer storico
e dai profondi meandri dell'operoso nordest che ha finito solo adesso di lavorare.. 
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UNA FELICE PASQUA
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