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Podcast: Compliance Clarified – a podcast by Thomson Reuters Regulatory Intelligence
Episode: Season 7, Episode 10: The curious case of Credit Suisse (AT1) bondholders
Description: The triggering of a complete write-down of the nominal value of all Credit Suisse AT1 debt has come as a shock to some investors. Regulators took what some saw as an irregular move to write down 16 billion Swiss francs of Credit Suisse bonds, known as Additional Tier 1 or AT1 debt, to zero, during UBS's rescue of Credit Suisse on the weekend of March 18/19.In this episode of Compliance Clarified, Alexander Robson, managing editor of Regulatory Intelligence in London, is joined by Helen Parry, senior regulatory intelligence expert in London to discuss contingent convertibles, otherwise known as CoCo bonds...