Webinar Replay — The Future of AT1s: Regulatory Overhaul or Market Evolution?

In this webinar, 9fin host and European IG editor Michael Winfield was joined by Jackie Ineke, Chief Investment Officer at Spring Investments SA, Jakub Lichwa, Portfolio Manager at TwentyFour Asset Management, Charles-Antoine Dozin, Managing Director and Co-head of FIG DCM at Morgan Stanley, and Julien Brune, Head of DCM Solutions & Advisory at Societe Generale.

We discussed:

• Structural reform: How regulatory changes aimed at improving loss-absorption capacity may lead to a fundamental reshaping of additional tier one bank capital.
• The end of AT1 as we know it: Whether the European Commission's recommendations to simplify the regulatory and supervisory framework will spell the end of the current AT1 market structure.
• Enhanced loss absorption: How the ECB's suggestion to strengthen AT1 instruments' loss-absorption capacity might be achieved in practice, and what the consequences are for the existing market.