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AT1 prices were hit last week after Swiss regulators decided to wipe out $17.5 billion of such bonds issued by Credit Suisse as part of its acquisition by UBS. (Source photos by Getty Images and Reuters)
Chinese regulation seen boosting AT1 bond prices during crisis
Investors find comfort in Beijing bureaucrats’ history of supporting wobbly banks
ECHO WONG, Nikkei staff writer | China
HONG KONG — In recent months, one of the biggest risk factors for investors in China has been the heavy hand of government officials cracking down on tech companies or enforcing zero-COVID polices.
Now, as a crisis of confidence batters banks around the world, some market participants are crediting the bureaucrats in Beijing with helping to buttress the prices of bonds issued by some of China’s biggest lenders.
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Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.