Ireland’s Elderfield rules out senior debt haircuts

matthew-elderfield

Haircuts on senior debt were a serious matter and should not be embarked upon lightly, Matthew Elderfield, the head of financial regulation at the Central Bank of Ireland, said in testimony to lawmakers on Wednesday.

In an appearance before parliament's Joint Committee on Economic Regulatory Affairs, Elderfield said: "[The use of] resolution powers to impose losses on senior bond holders has, as far as I am aware, taken place only extremely rarely. The current difficult funding position for both

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