RBI Writes Down AT-1 Bonds to Reconstruct Yes Bank
Recently, the reserve Bank of India, under the scheme of reconstruction of Yes Bank, decided to write down Yes bank’s additional tier 1 (AT1) bonds worth Rs. 8,415 crore.
About AT-1 Bonds
- Additional Tier-1 (AT-1) bonds are unsecured perpetual bonds — with no maturity — issued by banks to shore up their capital base to meet Basel III requirements.
- The RBI is the regulator for these bonds.
- TheAT-1Bonds was introduced by Basel III post the 2008 financial crisis, to protect depositors of a bank on a going concern basis. These bonds are also commonly known as Contingent convertible capital instruments (CoCos).
- Under the ....
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