Convertible Bonds and Financial Conduct Authority FCA

Financial Conduct Authority FCA: Reuters Britains banks are banned from offering risky and complex hybrid debt known as contingent convertible bonds or CoCos to the mass market from October, the countrys Financial Conduct Authority FCA said on Tuesday, according to Euro News. The bonds can be written off or converted into equity if capital at the bank which issued them falls below a pre-determined trigger level and By Huw Jones Faced with pressure from regulators to bolster their capital cushions, banks are set to issue CoCo bonds in ever larger amounts to shield taxpayers from having to rescue failing lenders like in the 2007-09 financial crisis. (news.financializer.com). As reported in the news.