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The article actually discusses AT1's at length, and pre-addresses all of your arguments. I'm not sure I find Levine's argument 100% compelling — I mean, we're d
by thechao 4y ago
The article actually discusses AT1's at length, and pre-addresses all of your arguments. I'm not sure I find Levine's argument 100% compelling — I mean, we're dealing with a sentiment based sale, not calculating engines — but I don't think he's as close to wrong as you seem to imply.
- kurthr 4y agoI don't have a strong opinion, and simply posted one of the many articles discussing it today. It's definitely water cooler talk, and I wouldn't say it's discussion is really 'at length' or base any significant legal or monetary decisions on it. edit: If you have Bloomberg Intelligence there's a nice graphic on Additional Tier 1 bonds with Triggers, Loss Absorption, and and Write Up by Issurer. It was known that both UBS and CS were non-recoverable.