The country is an outlier internationally, with a large proportion of AT1s held by domestic retail investors. Regulator Apra believes this would make it particularly challenging to use AT1 during the recapitalisation of a bank in resolution.
Overview Pallas Partners LLP ("Pallas") is building a group of holders of Credit Suisse's Additional Tier 1 Bonds ("AT1s") wiped out at the weekend as part of the Swiss government-mandated takeover