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Daily Digit: New Rescue Model For Co-Op Bank

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Daily Digit: New Rescue Model For Co-Op Bank
AIRED:
1.4 billion pounds is today's daily digit in Europe - the hole in the balance sheet at Britain's Co-operative Bank. It's set to be tackled with a new style rescue deal which forces bondholders to pay part of the bill. The so-called "bail-in" involves swapping debt for new bonds and equity. The bank will also be listed on the London Stock Exchange. And the rest of the Co-op Group, Britain's biggest customer-owned business, will provide financial support.moreless
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