Barclays plans to include CoCos in senior execs’ bonuses

Barclays plans to include CoCos in senior execs’ bonuses


Barclays Bank is reported to have submitted a plan to the UK Financial Services Authority to issue contingent convertibles (CoCos) to 1,000 senior managing directors as part of its annual bonus payments. CoCos are a form of debt designed to be quickly converted into equity to absorb losses in the case of a sudden and potentially fatal shock to a bank. They shot to prominence in November last year when the UK’s Lloyds Banking Group persuaded investors to swap £8.78 billion in existing bonds for

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