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S’pore bank bonds more volatile amid fallout, but lenders not hit hard
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The forced marriage of Credit Suisse and UBS involved wiping out some US$17 billion worth of Credit Suisse AT1 bonds.
ST PHOTO: LIM YAOHUI
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SINGAPORE – Singapore banks have not been spared from the fallout of Credit Suisse’s takeover by UBS, with their Additional Tier 1 (AT1) bonds seeing more volatility since news of the deal.
AT1 bonds form part of banks’ capital adequacy requirements. Despite the recent volatility, the three local lenders are still well placed to shore up their capital if the need arises, experts said.
