Further changes to Russian Basel III rules on subordinated debt
After half a year of Basel III implementation experience that prompted numerous clarification requests from market participants, the Central Bank of Russia has published amendments to Regulation 395-P regulating Russian banks’ capital that revised certain of its current requirements for subordinated debt instruments. This draft is widely expected to be close to final. If adopted, the amendments will become effective on 1 January 2014.
In particular, the base capital ratio triggering write down of subordinated instruments has been reduced from 6.4 per cent to 5.5 per cent, which is a welcome change for Russian banks. Below, Allen & Overy summarises and comments on the key provisions of the draft amendments dealing with subordinated debt…
If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.
News from Allen & Overy
News from The Lawyer
Briefings from Allen & Overy
Fondazione Enasarco v Lehman Brothers Finance is an important decision in the context of characterising which claims will fall as insolvency-derived claims.
Analysis from The Lawyer
‘Exotic’ investors and opportunities for legal work beyond M&A feature in The Lawyer’s high-level roundtable debate on south-east Europe
Why has Herbert Smith Freehills (HSF) decided to walk away from the Singapore qualifying foreign law practice (QFLP) scheme?