Asia-Pacific banks' additional Tier 1 (1) bonds contain the same clause used by the Swiss to write down the debt of Credit Suisse Group AG, roiling the global market. A report by research firm CreditSights said the existing terms and conditions of regional lenders' 1 notes 'permit the regulators to impose losses on these instruments, similar to what Finma imposed on the 1s of Credit Suisse'. Still, Pramod Shenoi, a co-head of Asia-Pacific research, expects officials in the region only to invoke the clause if a lender lacks capital.

http://klse.i3investor.com/web/blog/detail/kianweiaritcles/2023-03-24-story-h-275204047-Asia_Pacific_banks_AT1_bonds_also_have_Swiss_wipeout_clause_report_says

#i3investor