Resumen de Australian Basel III bonds come of age
The article focuses on the development and progress of the contingent convertibles (CoCos) market of Australia with the sale of Basel III-compliant bonds since 2012. Topics covered include the use of partial write-down or conversion under the Basel-III prudential requirements published by the Australian Prudential Regulatory Authority. Outlook indicate the potential increase in Tier 2 bond offerings as institutional investors become more comfortable with non-viability clauses.
