#thread #CocoBonds #AT1Bonds #CreditSuisse #UBS
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RT @VMRConstancio
The battle of Cocos. Swiss authorities made a mistake with consequences and potentially a host of court cases. They wiped out $17 billion of Additional Tier 1 bonds ( or Contingent Convertible Bonds or Cocos).These were invented after the 2008 crisis to shore up banks’ capital 1/
https://twitter.com/VMRConstancio/status/1637802571430592513