'Political' TLAC plan disappoints as crucial questions left hanging

Carney thoughtful
By Owen Sanderson
13 Nov 2014

The Financial Stability Board has published its hotly anticipated paper on the final round of new bank capital requirements — Total Loss Absorbing Capacity, or TLAC. But the consultation paper, rushed out ahead of the G20 meetings in Brisbane this weekend, leaves the most important questions unanswered.

“The FSB needto reach a political agreement this week, and being consensual can be detrimental to detail, especially as the consultation process is just opened,” said Julien Brune, co-head, capital structuring, at Société Générale.

“If you’re a European issuer now, you still lack the certainty to make ...

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