EBU Single Rulebook Q&A 13 February 2026 2026_7716 LCR treatment of issuances with automatic optionality/knock-out features

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European Union · · · 24-04-2026

What is the LCR treatment of issuances with automatic optionality/knock-out features (hereinafter: ‘auto-callable issuances’) whereby notes are automatically redeemed should the underlier meet a strike level on specified observation dates? Applicable regulation does not specifically touch upon auto-callable issuances.

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