Westpac leads T2 charge after agreement on Aussie TLAC
Westpac has laid out plans to sell a pair of tier two bonds in the US dollar market, just days after the Australian Prudential Regulation Authority (Apra) put the asset class at the heart of its total loss-absorbing capacity (TLAC) framework.
Rather than giving Australian banks room to issue new types of senior bonds for TLAC, Apra said last week that it would require the country’s biggest four lenders to meet their new targets using tier two.The plans could lead to A$50m ($35.1bn) of fresh supply in the ...
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