European structured product issuers fear TLAC funding hit

Banks face loss of attractive source of dollar funding

scissors cutting a dollar bill into strips
Banks' dollar funding under threat

European banks could face the loss of a valuable source of US dollar funding if the Financial Stability Board's (FSB) proposals for banks to hold an extra layer of debt as a buffer against losses discourage the issuance of structured notes, senior equity derivatives bankers have warned.

Under proposals issued by the Financial Stability Board (FSB) in November, global systemically important banks will be required to hold bail-inable debt equivalent to between 16% and 20% of their risk-weighted

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