Hong Kong and Singapore regulators seek to reassure AT1 bondholders

The central banks of both jurisdictions have issued statements on the back of Credit Suisse’s merger with UBS that saw $17 billion in AT1 bonds wiped out.
March 28, 2023

The Hong Kong Monetary Authority (HKMA) and Monetary Authority of Singapore (MAS) followed the example of regulators in Europe last week, by issuing statements in response to the $17 billion wipe-out of additional tier 1 (AT1) bonds that followed Credit Suisse’s takeover by UBS on March 19.

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