Written question asked by Lord Myners (Crossbench) on Wednesday, 11 May 2016, in the House of Lords. It was due for an answer on Wednesday, 25 May 2016. It was answered by Lord O'Neill of Gatley (Conservative) on Thursday, 12 May 2016 on behalf of the Treasury.
Shareholders: Voting Rights
- Question
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To ask Her Majesty’s Government whether they will consider giving the owners of Alternative Tier One instruments capital voting rights in banks which are approaching a contingent convertible conversion point.
- Answer
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The Government does not have plans to propose changes to Additional Tier 1 (AT1) instruments. These instruments have been designed without voting rights for investors because it is necessary for issuing banks to have the capital readily available in times of stress. Introduction of voting rights before a bank reaches a trigger point could undermine the ability to quickly convert these instruments and secure the capital necessary to prevent additional stress.
Secondary information
- Type
- Written question
- Reference
- HL8293
- Session
- 2015-16
- Subjects
- Banks Voting rights Shareholders
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2016-07-05 20:13:14 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2015-16/HL8293
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/lords/2015-16/HL8293
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/lords/2015-16/HL8293