Banks glimpse certainty on non-preferred after Council agreement
The European Council has agreed to fast-track work on creating a non-preferred senior asset class, offering hope for those banks that are still looking for a cheaper way of raising their regulatory capital ratios.
The Council has drafted a directive amending the legal ranking of unsecured bonds in insolvency, and will set about agreeing on the text with the European Parliament.
“The draft, which mainly amends article 108 of the bank recovery and resolution directive [BRRD], has been made a
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