Coupon Definition

GLOSSARY

Published by a UU��ֱ�� Pensions expert

What does Coupon mean?

The interest payment on a bond.

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Sustainable finance and ESG—timeline 2016–2021 [Archived]

Sustainable finance and ESG—timeline 2016–2021 [Archived] This timeline outlines the key developments relating to sustainable finance and environmental, social and governance (ESG) integration from a UK, EU and international perspective. Sustainable finance and ESG (including climate change) means broadly integrating ESG factors, risks and preferences in financial products and services, as well as in investment, financing and business decisions, operations and risk management. For more information, see Overview: Sustainable finance and ESG—overview. Date Source Document Description 23 December 2021 United Nations Environment Programme Finance Initiative Awareness-raising and training activities on sustainable finance by UNEP FI training department and its partners in 2021 The United Nations Environment Programme Finance Initiative (UNEP FI) has published a list of awareness-raising and training activities on sustainable finance run by its training department and partners in 2021. Webinar recordings and presentation slides of many of the events are available to view. 21 December 2021 Financial Conduct Authority Primary Market Technical Note 801.2: Disclosures in relation to ESG matters, including climate change...

Financial Services—Brexit—timeline [Archived]

Financial Services—Brexit—timeline [Archived] ARCHIVED: This Practice Note is archived and is no longer maintained. On 23 June 2016, the UK held a referendum on its membership of the EU, with a majority voting in favour of the UK leaving the EU. On 29 March 2017, the UK Prime Minister gave formal notification of the UK’s intention to withdraw from the EU, commencing the withdrawal process under Article 50 TEU. This timeline sets out key events, publications, and the next steps on Brexit relevant to financial services firms. 2024 Date Details 31 January 2024 UK Government Document: Financial Services and Markets Act 2023 (Commencement No 5) Regulations 2024SI 2024/250: Certain provisions of the Financial Services and Markets Act 2023 (FSMA 2023) come into force partly on 1 March 2024, partly on 1 August 2024, and fully on 1 January 2025. 31 January 2024 UK Government Document: Data Reporting Services Regulations 2024SI 2024/107: These Regulations are made in exercise of legislative powers under the Financial Services and Markets Act 2023 (FSMA 2023) in...

Terms and conditions—first time issuer's negotiation checklist

Terms and conditions—first time issuer's negotiation checklist What this checklist covers This checklist outlines the key points that a lawyer advising a first time issuer should check and, if necessary, seek to amend when reviewing English law terms and conditions for an issue of debt securities. This checklist contains material relevant to: • secured and unsecured debt securities • debt securities constituted by a trust deed, and • debt securities issued without trust deeds, such as: ◦ debt securities issued under a fiscal agency structure—for information on fiscal agents, see Practice Note: Role of a fiscal agent, and ◦ debt securities constituted by an instrument executed by the issuer (and guarantor, if applicable) without a trustee, of the kind used in issues of mini-bonds (a bond instrument) This checklist should be read together with Practice Note: Terms and conditions—first time issuer's guide, which: • explains the practical aspects of the key individual provisions (conditions) usually found in the terms and conditions of debt securities • compares them with the...

Part 26A restructuring plan deal debrief—Hurricane Energy PLC

Part 26A restructuring plan deal debrief—Hurricane Energy PLC Hurricane Energy PLC applied for a Part 26A restructuring plan (RP) at a convening hearing in May 2021 and sanction hearing in June 2021, however, the court refused to sanction the RP. The key points appear below (capitalised terms not defined herein are as defined in the convening and sanction judgments). This Deal Debrief forms part of our Restructuring plans toolkit. For a detailed analysis of key metrics from the RPs filed in 2023 and commentary from leading lights in the restructuring world, see Practice Note: Market Insights Trend Report—trends in Part 26A restructuring plans in 2023. Name of plan company Hurricane Energy PLC (the Company) Industry sector Oil & gas Place of debtor’s incorporation and jurisdictional factors England and Wales Legal counsel involved The Company: Tom Smith QC, Matthew Abraham and Ryan Perkins (instructed by Dentons UK and Middle East LLP) The Ad Hoc Committee of Bondholders (AHC): Stephen Robins (instructed by Akin Gump LLP) Crystal...

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What is Partial Tear-up?

What is Partial Tear-up? What is the background to PTU? A central counterparty (or simply, a clearing house) (a CCP) clearing bilateral derivatives transactions could experience distress either due to default losses or non-default losses. Default losses occur where one or more Clearing Member(s) (CM) defaults on its obligations to the CCP—derivatives contracts are cleared through a CCP via a CM. Rebalancing tools such as Partial Tear-up (PTU) are used as part of a CCP’s default management process in its rulebook to address potential default losses by restoring a matched book of the CCP. Rebalancing tools can be used by the CCP or by a resolution authority where that CCP is in resolution. What is PTU and when is it used? Tearing up of open contracts may be either ‘full’ or ‘partial’. A partial tear-up would involve the termination of only the defaulted clearing participant's contracts so that the CCP is returned to a matched book, as opposed to termination of all open contracts covered by...

Will the UK remain a signatory to the Basle Capital Convergence Agreement of July 1988 post Brexit?

Will the UK remain a signatory to the Basle Capital Convergence Agreement of July 1988 post Brexit? The Basel Accords—Basel I, II and III The Basle (or Basel) Capital Convergence Agreement of July 1988, is the original text of the first Basel Capital Accord (Basel I), which set down an agreement among the G-10 central banks (including the UK and non-EU countries such as the United States of America and Japan) to apply common minimum capital standards to their banking industries originally to be achieved by end of 1992. It focused mainly on credit risk by creating a bank asset classification system and the appropriate risk weighting of assets. The second Basel Accord, the Revised Capital Framework (Basel II) served as an update of Basel I and focused on three main areas, minimum capital requirements, supervisory review of an institution’s capital adequacy and internal assessment process and an effective use of disclosure to strengthen market discipline and encourage sound banking practices (ie the three pillars). Following...

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ASA rulings— 27 November 2024

Two complaints were received by the Advertising Standards Authority (ASA) regarding a misleading promotion for free Persil detergent with the purchase of a Samsung washing machine, and a misleading environmental claim made by Wizz Air in a paid Google ad. The ASA upheld the complaints.

ICMA welcomes objective of MiFIR review consultation package and makes recommendations

The International Capital Market Association (ICMA) has responded to the European Securities Markets Authority’s (ESMA) MiFIR consultation package on the review of RTS 2 on transparency for bonds, structured finance products and emission allowances, draft RTS on reasonable commercial basis and review of RTS 23 on supply of reference data, published in May 2024.

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GLOSSARY