Brazil hybrid rule change hopes high

Brazil hybrid rule change hopes high

Brazil's central bank is considering changing a regulation that has held back banks' sales of hybrid tier one instruments, sources say. Brazil's version of Basel III rules, the global framework that governs bank capital, does not allow hybrids to offer a coupon reset. But the country's largest banks are lobbying the regulator to change the rules — and they could have success. “Based on our experience with the Central Bank, I wouldn’t say it’s very likely, but it is likely, that the Central Bank

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