UniCredit pushes back TLAC funding plan

Jasper Cox

November 08, 2018 08:00 pm

Mustier_PA_230x150 — Chief executive officer of SG Global Investment Management & Services and Chief executive officer of Socit Gnrale Asset Management Jean-Pierre Mustier looks on during the presentation of the bank's first quarter 2009 results, on May 7, 2009 at the bank's headquarters in the Paris-La Defense district of Puteaux, west of Paris. Societe Generale returned to a loss in the first quarter after the further devaluation of its U.S. real estate-linked assets caused it to take nearly euro2 billion (USD2.7 billion) in new writedowns and provisions. Oudea is to take on the chairman's duties May 24, while keeping his job as CEO. Photo by Etienne de Malglaive/ABACAPRESS.COM | De Malglaive Etienne/ABACA/PA Images

UniCredit has moved its target date for issuing instruments to meet its total loss absorbing capacity (TLAC) requirement from the end of this year to the end of March next year. Meanwhile, chief executive Jean Pierre Mustier is set to invest in the bank’s equity and additional tier one (AT1) notes.

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Topics

Italy Bank Capital Senior Debt Intesa Sanpaolo FIG People and Markets Europe UniCredit EMEA FIG People and Markets Bank Strategy

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Jasper Cox