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
Federal regulators have voted to approve the ‘Volcker Rule’, more than two years after the rule’s proposal in 2011.
In March 2013 the European Commission consulted on proposals to simplify procedures under the EU merger regulation.
Analysis from The Lawyer
Advisers get stuck into the disentangling task, to unhitch troubled bank from group
Shell legal director Peter Rees is switching litigation control away from external counsel to a unified global team of in-housers