India Supreme Court Ruling Reverses Yes Bank AT1 Write-Down
The Supreme Court reversed Yes Bank’s write-down of more than $800 million in additional Tier 1 capital, affecting its loss-absorbing capital buffer.
Yes Bank, controlled by Sumitomo Mitsui Banking Corp (SMBC), faces a reduction in its loss-absorbing capital buffer, or Common Equity Tier-1 (CET1), after Thursday’s Supreme Court ruling reversed the write-down of more than $800 million in additional Tier-1 (AT-1) capital.