Issues of unsecured debt, CDs pick up steam at US G-Sibs

Systemically important US banks have altered their funding structures since end-2014, with issuances of senior unsecured debt, certificates of deposit (CDs) and preferred shares far outpacing those for other types of security.

Total securities outstanding across the eight US global systemically important banks (G-Sibs) stood at $3.4 trillion in carrying value at end-June, up 14.6% on end-2014 and 3.6% year-on-year, according to systemic risk reports.

Of this total, $1.2 trillion (36.9%) were

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