Dealers tout bond repacks to bridge TLAC issuance gap
Glut of debt expected to flood market ahead of new regulatory rules could be repacked into structured note-like products
Dealers concerned about filling loss-absorbing regulatory capital buffers with eligible debt instruments could turn to bond repacks to fill part of the gap, market participants say.
With global systemically important banks (G-Sibs) barred from using structured notes to meet their total loss-absorbing capital (TLAC) requirements, dealers say they will be forced to ramp up vanilla issuance in the
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