Nicholas Yaxley.

About Nicholas Yaxley

Nick founded BondAdviser in July 2014. He has over 15 years’ experience in developing research and investment solutions across Public and Private Credit Markets. Read bio >
14 Jun, 2017

Banco Popular: First European AT1 Hybrid (CoCo) Triggered

By |2021-09-24T10:43:38+10:00Jun 14, 2017|Hybrids|

In July 2016, a stress-test conducted by the European Central Bank (ECB) highlighted the “alarming levels of debt” carried by some of Europe’s biggest lenders. Among a few others, Spanish Bank Banco Popular was expected to fall short of capital requirements in a stressed scenario. Reason for failure The bank’s inherent weakness was emphasized when it posted a €3.5 billion [...]