EU Bail-In Powers and Transaction Structuring

10/16/2014 11:00 a.m. - 12:00 p.m. EDT

Banking + Financial Services, Corporate Finance | Capital Markets, Financial Institutions + Financial Services, and Investment Management

Peter J. Green and Jeremy C. Jennings-Mares

Peter J. Green and Jeremy C. Jennings-Mares

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Harrison Lawrence
hlawrence@mofo.com
(212) 336-4004

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The Bank Recovery and Resolution Directive (BRRD) has now been adopted in the EU and will harmonize the range of resolution tools available to supervisory authorities in the EU in the event of the failure of major financial institutions. A key cornerstone of the new legislation is the introduction of a new “bail-in” power available to regulatory authorities enabling them to require the write-down or conversion into equity of a wide range of unsecured senior debt as part of the resolution of a failing institution. Uncertainty remains as to the full extent of the bail-in powers and the range of instruments it is likely to apply to.

During this session, we will consider the scope of the bail-in power and how it might be applied in practice as well as discussing how this might affect the structuring of financial instruments issued by banks.

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