Euro-Style Bail-In Plan Means Bondholder Wipe-Out

Euro-Style Bail-In Plan Means Bondholder Wipe-Out

Marcos Issa/Bloomberg

The proposal, similar to one being considered by European Union lawmakers, comes after seven Brazilian banks became insolvent in the past three years and the deposit insurance fund spent 3.8 billion reais to rescue Banco Panamericano SA.