| Last year APRA released a discussion paper about the role AT1/hybrids would play in bank capital structures. On September 10, 2024, they released their proposal for the future of bank capital structures. APRA has had a longstanding issue with retail ownership of AT1 securities (hybrids), so it is not an enormous surprise that their proposal, changed the status quo so dramatically. To read our thoughts on how APRA’s changes will impact issuance, pricing, and longevity of AT1 investment we encourage you to Click here As usual we value your feedback. |
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