ALM Europe: Banks could issue more sub debt to cut bail-in risk, says BoI capital head

Banks could issue more subordinated debt to protect senior creditors from the threat of a bail-in – in theory. But Bank of Ireland capital head says the market is too thin


Banks may try to issue more subordinated debt to protect senior bondholders from the risk of bail-in, attendees at Risk's ALM Europe conference were told yesterday. But the market in these instruments may not be large enough to support these efforts, said Brian Kealy, head of capital management at Bank of Ireland.

"The question is whether banks raise more subordinated debt in order to effectively cover their bail-in requirement so as not to expose their senior debt pricing to the risk of bail-in

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