european banks

Market turmoil: what are CoCos?

Contingent convertible bonds allow banks to skip interest payments without defaulting, and can be converted to shares or written down if a bank runs into financial difficulties

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Market turmoil: Yellen warns global turbulence and China could hit growth – live

Fed chair has warned that turmoil in global financial markets could knock the US recovery, and hinted that interest rates will only rise gradually

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