Australia moves ahead to scrap AT1 bonds after Credit Suisse Hit

Quick Summary:

Australia will be first country to phase out use of AT1 bonds.

Australia’s big four banks each hold AT1 bonds equal to at least 1.5 per cent of their risk-weighted assets.

Under the new guidelines, they will be able to replace those bonds with 1.25 per cent tier 2 capital and 0.25 per cent common equity tier 1 capital.

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustralia

Topics: Prevent First Securities Access Bonds Capital Failure Tier Concerns Financial Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-09 @ 08:54:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 456 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 24249439

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Main Topics: EconomyBusiness

Official Website: straitstimes.com

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