Japan Banks Have Little Risk of AT1 Bonds Wipeout, Suzuki Says
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Japanese banks have little risk of facing a situation like Credit Suisse Group AG’s recent Additional Tier 1 bonds wipeout, Japan’s finance minister reassured onlookers who may be concerned about their holdings.
Finance Minister Shunichi Suzuki said in parliament Tuesday that Japanese banks’ AT1s do not have a clause which recently triggered $17 billion worth of junior debt being wiped out at the European bank.