"This approach has been consistently applied in past cases and will continue to guide the actions of the SRB and ECB banking supervision in crisis interventions," they said in a statement. (Reporting by Francesco Canepa, Editing by Louise Heavens)
004906975651247; Reuters Messaging: francesco.canepa.thomsonreuters.com@reuters.net)) FRANKFURT, March 20 (Reuters) - European supervisors
said on Monday bank shareholders should be wiped out when a bank
runs into trouble before owners of Additional Tier 1 bonds
suffer losses.
The European Central Bank, Single Resolution Board and
European Banking Authority were reacting to a decisions by Swiss
authorities to write off Credit Suisse's Additional Tier 1 bonds
with a notional value of $17 billion.
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