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<p>The Co-op Bank has made clear that the 13% subordinated bonds are included in its liability management exercise (LME). Co-op has not yet published the detail of its offer to these investors. Some information is available from the Co-op website at:</p><p>www.co-operative.coop/corporate/Press/Press-releases/Headline-news/Update-on-capital-position</p><p>The value of bonds held by investors in financial institutions is liable to change, and can do so for a variety of reasons. The PRA is independent of Government, and it acts in accordance with its statutory objectives. This question has therefore been passed to PRA, who will reply to the hon. Lady directly by letter. A copy of the letter will be laid in the Library of the House.</p> |