Bailed-in bondholders to get share right certificates

By Owen Sanderson
23 Jul 2014

UK bondholders subject to bail-in could receive “certificates of entitlement” giving them an interest in shares of the resolved bank, under Bank of England plans.

Andrew Gracie, executive director, resolution at the Bank said in a speech on Thursday: “Over the resolution weekend, trading and settlement of the firm’s bonds will be blocked and certificates of entitlement (CEs) will be credited to the bondholders’ accounts in the clearing systems. The bondholders, now CE ...

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