Quote Originally Posted by Bjauck View Post
Thanks for your post. Will the deposit guarantee scheme cover bonds as well as deposits?
It won't. Top of the stack will be secured/covered bondholders, depositors, then senior unsecured bonds (most of the ones on issue). By the time you get to Tier 2 there is less chance of repayment, and AT1 basically no chance in a failure scenario. However a government bailout/recap might make whole the AT1 holders and not the regular equityholders.