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AT1 bondholders have little room for recourse if enterprise fails: lawyers

INVESTORS holding on to Additional Tier-1 (AT1) bonds could face difficulty getting their money back if there are clauses in a bond’s contracts that allow the bondholders’ priority to be revoked in the event of a restructuring.

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Weighing bank AT1 perps: Are you compensated enough for the risk?

A SWISS bank perpetual note was recently in our portfolio, and I was none the wiser on its inherent risks – until the unprecedented, total writedown of Credit Suisse’s entire 16 billion Swiss francs worth of perpetuals.

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IMF chief warns risks to financial stability have increased

INTERNATIONAL Monetary Fund chief Kristalina Georgieva warned on Sunday (Mar 26) that risks to financial stability had increased and stressed “the need for vigilance” following the recent turmoil in the banking sector.

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Credit Suisse faces possible disciplinary proceedings: Finma

CREDIT Suisse Group (CS) faces the threat of a possible probe and disciplinary action over how top managers ran the bank in the lead-up to its collapse and takeover by UBS Group, Switzerland’s banking regulator told NZZ am Sonntag.

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Standard Chartered to sell business in Jordan

STANDARD Chartered said on Sunday (Mar 26) that it plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), as the emerging markets-focused lender presses ahead with plans to exit seven markets in Africa and the Middle East.

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Credit Suisse takeover hands Swiss business a big headache

UBS Group’s emergency buyout of Credit Suisse Group threatens to drastically shrink the financing options for small and mid-sized companies, after the demise of a 166-year-old champion of Swiss entrepreneurship.

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Credit Suisse’s infamous ETN misadventure may be limping to end

UBS Group’s abrupt takeover of Credit Suisse may mark the beginning of the end for one of the industry’s more notorious franchises.

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US regulators say banking system ‘sound and resilient’

THE multi-regulator US Financial Stability Oversight Council agreed on Friday (Mar 24) that the US banking system remains “sound and resilient” despite stress on some institutions, the US Treasury said in its latest statement to calm jittery markets and bank depositors.

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Ex-Goldman banker Roger Ng must forfeit US$35.1 million over 1MDB

FORMER Goldman Sachs banker Roger Ng, who was sentenced to 10 years in prison for his role in the global 1MDB fraud, was ordered to forfeit US$35.1 million by a judge who rejected his claims that Malaysia already took all of his money.

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Small US banks see record drop in deposits after SVB collapse

DEPOSITS at small US banks dropped by a record amount following the collapse of Silicon Valley Bank on March 10, data released on Friday (Mar 24) by the Federal Reserve showed.

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