Banks have a 90-day window during which to buy back $118 billion in so-called “trust preferred securities,” under the recently passed Dodd-Frank reform act. Financial institutions reportedly have expressed interest in the buybacks because they offer higher interest rates to attract investors. However, the bill bars firms from counting these securities as tier 1 capital beginning in 2013.
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|1||Bank of America Merrill Lynch (BAML)||1,284||2||30.09|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Bank of America Merrill Lynch||7,473.95||24||10.26%|
|5||Wells Fargo Securities||6,258.35||24||8.59%|