March 30 (Reuters) - European regulators have distanced
themselves from Switzerland's decision to wipe out $17 billion
of Credit Suisse's bonds in the wake of the bank's
rescue, saying they would write down shareholders' investments
first, CNBC reported on Thursday.
"In the European context, we would follow the hierarchy, and
we wanted to tell it very clearly to the investors, to avoid to
be misunderstood: we have no choice but to respect this
hierarchy," Dominique Laboureix, chair of the Single Resolution
Board, told CNBC in an interview on Wednesday.
(Reporting by Juby Babu in Bengaluru; Editing by Jan Harvey)
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