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Bonds & Fixed Income

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Bonds & Fixed Income

Accrued Interest

Interest earned on a bond since the last coupon payment but not yet paid out.

Accrued Interest = Coupon Payment x (Days Since Last Coupon / Days in the Coupon Period) ₹ Bonds & Fixed Income

AT1 Bond

An Additional Tier 1 bond: a perpetual, subordinated bank instrument that can be written down or converted to equity to absorb losses.

Test: perpetual, subordinated, with discretionary coupons and a contractual write-down or conversion trigger on a capital shortfall qualitative