Hong Kong regulator cautious about CoCos

arthur-yuen
Arthur Yuen, Hong Kong Monetary Authority's deputy chief executive

Despite the popularity of Barclays' recently issued contingent convertible bonds (CoCos) with investors, the Hong Kong Monetary Authority (HKMA) is less convinced and is concerned about their safety, according to Arthur Yuen, deputy chief executive of the HKMA, speaking at a Thomson Reuters conference in Hong Kong today.

From January 1, 2013, Basel III requires bank issuance of Tier II capital to be loss-absorbable at the point of non-viability, prompting Barclays to issue a hugely oversubscribe

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: