Alaric wrote:88V8 wrote:They're Perpetual Subs rather than Prefs.
The unsafe is perhaps a folk memory harking back to when the Bank tried to retire them at par.
You may recall the campaign against this chicanery led by OBR on TMF.
Are those the bonds that used to be PIBS issued by the Bristol & West Building Society? If so, didn't the FCA have to wave a stick at the Irish government for attempting to write down assets of British pensioners.
That would be one interpretation. In reality BOI wasn't held exclusively by pensioners (I had a tranche for instance and was in my 30s) and secondly the FCA had little or no sway at all over a foreign sovereign power. Mark Taber did a pretty good publicity job though. Nevertheless BOI lived to fight another day.