reply on: Credit Suisse writes down $17 billion of bonds to zero \ stacker news ~bitcoin

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0 sats \ 0 replies \ @2minutebitcoin 20 Mar 2023 \ on: Credit Suisse writes down $17 billion of bonds to zero bitcoin

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 ;)