Investire Oggi - perpetue_week_50_2010 - © onik
Investire Oggi - perpetue_week_50_2010 - © onik
Investire Oggi - perpetue_week_50_2010 - © onik
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capacity of the bank20; or<br />
ii. The bank demonstrates that its capital position is well above the minimum capital<br />
requirements after the call option is exercised.21<br />
6. The investor must have no rights to accelerate the repayment of future scheduled payments<br />
(coupon or principal), except in bankruptcy and liquidation.<br />
7. The instrument cannot have a credit sensitive dividend feature, that is a dividend/coupon that<br />
is reset periodically based in whole or in part on the banking organisationтs credit standing.<br />
8. Neither the bank nor a related party over which the bank exercises control or significant<br />
influence can have purchased the instrument, nor can the bank directly or indirectly have<br />
funded the purchase of the instrument<br />
9. If the instrument is not issued out of an operating entity or the holding company in the<br />
consolidated group (eg a special purpose vehicle пSPVи), proceeds must be immediately<br />
available without limitation to an operating entity22 or the holding company in the<br />
consolidated group in a form which meets or exceeds all of the other criteria for inclusion in<br />
Tier 2 Capital<br />
Personalmente non mi sento così sicuro nell'interpretazione di tutti questi parametri. Faccio un esempio con<br />
una domanda: una attuale Tier 1, non step-up, sia essa cumulativa o non, potrebbe essere declassata a Tier2<br />
e quindi non essere richiamata?<br />
Rottweiler 17-12-<strong>2010</strong> 15:07<br />
Citazione:<br />
<strong>Investire</strong> <strong>Oggi</strong> - <strong>perpetue</strong>_<strong>week</strong>_<strong>50</strong>_<strong>2010</strong> - <strong>©</strong> <strong>onik</strong><br />
Originalmente inviato da stordits (Messaggio 1938193)<br />
For an instrument that has a call and a step-up prior to 1 January 2013<br />
DUNQUE TUTTI QUEGLI IRS TIPO CREDIT AGRICOLE FR0010161026 CALLABLE DAL 2015<br />
MA SENZA STEP UP NON PERDERANNO IL LORO STATUS DI TIER1 DAL GIORNO DELLA<br />
CALL?<br />
NON CAPISCO LA RATIO DEL LEGISLATORE. QUALCUNO L'HA CAPITA?<br />
Immagino che la ratio del legislatore sia semplicemente quella di non creare delle maggiori attese di<br />
richiamo negli investitori ( e quindi di "obbligo" di richiamo da parte della banca) per via del meccanismo<br />
di step-up.<br />
fidw99 17-12-<strong>2010</strong> 15:11<br />
232
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