UBS $3.2B takeover of Credit Suisse wipes out AT1 bonds, proves bank bonds are more risky than previously believed

UBS $3.2B takeover of Credit Suisse wipes out AT1 bonds, proves bank bonds are more risky than previously believed

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(Natural News) Holders of additional tier 1 (AT1) bonds from the beleaguered Credit Suisse were angered by the announcement that their investments will be written to zero, following the $3.2 billion takeover of rival banker UBS.According to CNBC, the Swiss Financial Market Supervisory Authority (FINMA) broke the news. This effectively … [Read More...]

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