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Credit Suisse writes down $17 billion of bonds to zerowww.msn.com/en-us/money/markets/credit-suisse-writes-down-17-billion-of-bonds-to-zero-angering-holders/ar-AA18PlSJ
45 sats \ 3 comments \ @031190e61a 20 Mar 2023 bitcoin
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0 sats \ 0 replies \ @2minutebitcoin 20 Mar 2023
They sit just above equity in the priority ladder for repayment in a bankruptcy process, and are designed to be converted into shares when a lender's capital buffers are eroded beyond a certain threshold.
Seems like some special type of bonds. You have to really understand what you're getting into before investing into something as ponzi-like as a bank ;)
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0 sats \ 0 replies \ @random_ 20 Mar 2023
Credit Suisside
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0 sats \ 0 replies \ @Darkbulb 20 Mar 2023
Oof
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