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BoE sees no place for structured notes in TLAC for now

Hints that the Financial Stability Board is softening towards inclusion of principal-protected notes not reflected in Bank of England communications, say dealers

bank-of-england
The Bank of England in the City of London

The Bank of England (BoE) is against the idea of including structured notes in total loss-absorbing capacity (TLAC) for the world's largest banks, according to dealers, potentially putting it at odds with other global standard-setters at the Financial Stability Board (FSB).

Andrew Gracie, executive director for resolution at the central bank, said in a speech to the British Bankers' Association on

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