Fink: Billions could flow into preferreds as banks recapitalise

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US - Laurence Fink, chairman and chief executive of BlackRock, said billions of assets could flow into perpetual preferred shares issued by European banks looking to recapitalise as they face more stringent capital requirements.

Speaking on an earnings call with analysts yesterday, he said perpetual preferred shares are not currently counted towards tier one capital in Europe, but he hopes that will change as banks lobby r...

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