The destruction of the AT1 bonds of Credit Suisse is getting an increasingly unappetising downside. The official story was so far simple: Credit Suisse had to be saved, the state jumped in, which triggered a so-called "Viability Event". And FINMA was allowed to set AT1 bonds in the amount of around 16.5 billion Swiss francs to zero. Additional Tier [...]
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The destruction of the AT1 bonds of Credit Suisse is getting an increasingly unappetising downside. The official story was so far simple: Credit Suisse had to be saved, the state jumped in, which triggered a so-called "Viability Event". And FINMA was allowed to set AT1 bonds in the amount of around 16.5 billion Swiss francs to zero. Additional Tier [...]