Law firms back use of hybrids in bank capital

Sun, 28 Jul 2019

By Jenny Ruth July 29 (BusinessDesk) – Law firm Buddle Findlay says the Reserve Bank “must revisit” its decision not to allow hybrid securities to count as tier 1 capital when calculating the balance sheet strength of the country’s banks. The securities – which are usually treated as debt but can be converted to equity – are recognised by international banking authorities and feature in the plans of Australia’s banking regulator to increase the capital required of that country’s banks. Buddle Findlay says there is no reason for the Res...

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