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“Knowing that a trigger might be close to being pulled, and their claims converted, CoCo investors are likely to sit up and take notice” |
Bank of England executive director of financial stability Andrew Haldane’s recent comments on trigger mechanisms for contingent convertible (CoCo) notes have been met with a chilly response from banks.
In late March, Haldane argued for a reconfiguration of banks’ capital structures, that “would bake-in the benefits of simplicity, robustness and timeliness”.
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