The Fed, Banks, and Credit Suisse
Bloomberg Intelligence
00:00
What Happened to AT1 Bondholders?
The AT1 bonds issued by Credit Suisse have effectively been wiped out, right? They've been written down to zero, while the Credit Suisse shareholders walked away with three billion Swiss friends. It's not a perfect read-across because Switzerland has got its own jurisdiction. But they're all broadly similar and bought by the same constituencies across the globe.
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