Flint hits out at 'perverse' bail-in proposals

24 Nov 2011

Douglas Flint, chairman of HSBC, has attacked the proposals for bail-in bonds that appeared in the UK’s Independent Commission on Banking (ICB) report earlier this year.

Giving evidence to the Treasury Committee at the Houses of Parliament on Wednesday afternoon, Flint warned that requiring UK banks to issue bail-inable senior debt could have unintended consequences. Committee chairman Andrew Tyrie said HSBC’s chief financial officer had recently estimated the cost to the bank of holding ...

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