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TLAC Bonds: What you should know

Beyond Markets

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Senior Tier-Like Bonds - Should We Expect Them to Get Called?

Senior tier-like bonds always have a one-year call date prior to maturity. Some common formats that we see are 4 non-core 3, 6 non-core 5, 11 non-core 10. I would say there is good incentive for banks to early redeem these senior tier- like bonds on their call dates.

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