How Finma milked Credit Suisse’s CoCos to close UBS deal

Credit Suisse offices

Credit Suisse’s contingent convertible (CoCo) bonds contained explicit language allowing regulators to write them down without first wiping out shareholders. But questions are still swirling about why the Swiss authorities chose this option when brokering its emergency sale to UBS, and whether other regulators could do the same when dealing with future bank failures.

The Swiss financial regulator Finma announced on Sunday (March 19) that the government support being provided for the deal –

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.