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Vinod Vasan: “NAIC? It’s obviously all a bit confused” |
It has been apparent for about three months that the status of the US institutional market as the default arena for hybrid issuance is under threat. Now those fears have been confirmed. For many years the US has been an automatic port of call for bank and insurance hybrid capital issuers, especially those wanting size. Bankers now say that the depth and liquidity of European investors will be tested more frequently by issuers from both sides of the Atlantic.
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