International Financial Law Review
Oliver Ireland, a partner in Morrison & Foerster’s Financial Services Group, commented on TLAC’s new capital structure in the article “DEAL: first US post-TLAC bond,” published by International Financial Law Review on January 20, 2017.
Mr. Ireland said the Fed has “been listening to comments, that’s clear from the amount of existing debt they chose to grandfather. People weren’t terribly surprised by the final approach.”
“You can’t structure a deal so that it will never have a problem,” added Mr. Ireland, “but TLAC’s new capital structure is pretty solid.”