EBA provides guidance on bail-ins under European directive
Guidelines cover shareholders, debt-equity conversions and “grandfathered” assets
The European Banking Authority (EBA) has published three guidelines, detailing how some aspects of the Bank Recovery and Resolution Directive (BRRD) should be applied.
The EBA’s first set of guidelines deals with a class of assets that are covered by both the BRRD and two other pieces of European legislation, the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD).
Under the CRR, certain assets are classified as “additional Tier 1”, or AT1, assets but are
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