Crédit Agricole lands mammoth tier two ahead of TLAC rush

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Crédit Agricole lands mammoth tier two ahead of TLAC rush

Graham Bippart
March 12, 2015 08:15 PM
Credit Agricole 230
Sign of Credit Agricole Bank, is seen in Nice, southeastern France, Wednesday, Sept. 14, 2011. Moody's on Wednesday downgraded the credit ratings of French banks Societe Generale and Credit Agricole following a period of huge volatility in the markets as investors fretted about their potential exposure to the debts of Greece. (AP Photo/Lionel Cironneau ) | Lionel Cironneau/AP/Press Association Images

The race to fulfil Total Loss Absorbing Capacity (TLAC) requirements has begun for Europe’s banks, illustrated most recently by Crédit Agricole’s €3bn equivalent two tranche tier two bond this week, writes Graham Bippart.

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