UK FSA and Treasury say covered bondholders should escape bail-ins
The UK Financial Services Authority (FSA) and the UK Treasury on Wednesday said covered bondholders should not be hit by bail-ins.
In a joint review of the UK's covered bond regulation, officials covered the scope of proposed 'bail-in' powers, which would allow the authorities to impose losses on the creditors of a failing financial institution. The review stated that the position in the UK should be that when using any bail-in powers, secured creditors' rights to collateral should not be
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