Pääomahyödyke

Pääomahyödyke refers to a financial instrument that qualifies as regulatory capital for a financial institution, such as a bank or insurance company. These instruments are crucial for ensuring the solvency and stability of financial firms by absorbing losses in times of financial distress. The specific criteria for an instrument to be considered a pääomahyödyke are defined by regulatory bodies, such as the European Banking Authority (EBA) or national financial supervisors.

Generally, pääomahyödykkeet must meet certain characteristics. They should be able to absorb losses, meaning they can be written down or converted into equity when the firm's capital falls below a certain threshold. They should also be perpetual or have a long maturity, and any payments to holders should be discretionary and not create a solvency problem for the issuer. Furthermore, they should not be structurally subordinated to other claims in liquidation.

Common examples of pääomahyödykkeet include common equity tier 1 (CET1) capital, additional tier 1 (AT1) capital, and tier 2 (T2) capital. CET1 capital, representing the highest quality of capital, primarily consists of common shares and retained earnings. AT1 and T2 capital instruments have varying degrees of loss-absorbing capacity and subordination. Regulators set minimum capital requirements for these instruments to ensure that financial institutions can withstand economic shocks and protect depositors and policyholders. The classification and eligibility of different instruments as pääomahyödykkeet are subject to ongoing review and updates by regulatory authorities.