“The key addition is the introduction of an alternate approach to bail-in where affected creditors receive non-transferable contingent beneficial interests,” the BoE said in a press release
International News via Reuters:
The Bank of England on Monday said it had introduced an alternative bail-in mechanism, publishing an update of its guidance on how the central bank might handle a bank failure.
“The key addition is the introduction of an alternate approach to bail-in where affected creditors receive non-transferable contingent beneficial interests,” the BoE said in a press release.
Reporting by Sam Tabahriti; Writing by Catarina Demony; Editing by William James
