Mooted 2015 bail-in may reignite covered supply

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Mooted 2015 bail-in may reignite covered supply

The touted acceleration of the bail-in timetable for senior unsecured debt holders by three years to 2015 would cause senior unsecured spreads to widen relative to covered bonds, tilting supply back in the covered market’s favour. However, such action would undermine the fragile confidence in peripheral banks.

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