Cypriot Bank Levy Is ‘Ominous’ for Bondholders, Barclays Says
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The decision to impose losses on Cypriot depositors is the latest erosion of bondholder protection at European banks and an “ominous” sign of how bailouts are being handled, Barclays Plc said.
Investors need to be better aware of national resolution frameworks, with Switzerland, Britain, the Netherlands and Germany being the riskiest for bondholders, Barclays, Britain’s second-largest bank by assets, said in a report.