Brexit and Brexit bonds: an unfortunate symmetry

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By Tyler Davies
25 Mar 2021

The Single Resolution Board made a messy situation messier with its handling of the Brexit bond debacle.

Market participants began discussing whether “Brexit bonds” would complicate bank resolutions almost as soon as the UK voted to leave the EU.

The term refers to instruments that were issued under English law without clauses recognising the EU27’s bail-in powers.

The SRB had said that “Brexit bonds” would ...

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