Five years after the first Basel III coco issuance, the Netherlands "gets" CoCos.
Uh oh, Jeroen Dijsselbloem form the Netherlands got into rough water this week: Dutch newspaper NRC had a nice scoop that showed how he relied on ING word smiths for writing a tax rule that renders bank capital instruments (CoCos) tax deductible, see full freedom of information documentation here.
How bad is this? End 2013, the Dutch government announced…
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