ICMA lays out EBA coco objections in letter to Enria

18 Jan 2012

The International Capital Markets Association has gone on the offensive over the European Banking Authority’s contingent capital instrument, setting out its members’ objections to the structure in a letter to the EBA’s chair Andrea Enria.

In the letter, sent on Tuesday and seen by EuroWeek Bank Finance¸ ICMA says that a tier two host would better align the EBA Coco with incoming regulatory requirements and make it more investor friendly.

Along with the letter, ICMA sent Enria the findings of a survey of its ...

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