# Additional Tier 1 (AT1) bonds

**URL:** <https://forum.mustachianpost.com/t/additional-tier-1-at1-bonds/10054>\
**Category:** Investing / Others\
**Created:** [March 19, 2023, 8:30pm UTC](https://forum.mustachianpost.com/t/additional-tier-1-at1-bonds/10054 "2023-03-19T20:30:02Z")\
**Posts on this page:** 1\
**Showing post:** 9

<div class="post-metadata">

**Author:** ![San\_Francisco](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/s/ea5d25/32.png) [@San\_Francisco](https://forum.mustachianpost.com/u/San_Francisco)\
**Post date:** [March 21, 2023, 7:38am UTC](https://forum.mustachianpost.com/t/additional-tier-1-at1-bonds/10054/9 "2023-03-21T07:38:45Z")

</div>

> [@Julianek](#):
>
> The trick of the AT1s — the reason that banks and regulators like them — is that they _are_ equity, and they _say_ they are equity, and they are totally clear and transparent about how they work, but investors _assume_ that they are bonds

…and even some fixed-income portfolio managers or founders and CEOs at investment companies apparently have been tricked into that belief. So far as to even spread it and through the media.

> [@What would happen if Credit Suisse goes bust?](https://forum.mustachianpost.com/t/what-would-happen-if-credit-suisse-goes-bust/9081/257):
>
> Now the question is, should we rename this topic to “What would happen if UBS goes bust…”?

If banks can be too big too fail™, can a bank also become _too big to be rescued_?

---

_[View the full topic](https://forum.mustachianpost.com/t/additional-tier-1-at1-bonds/10054)._