Summary: APRA plans to go ahead with phase-out of capital notes by banks; transition to begin 2027. In September 2023, APRA flagged its disdain for Additional Tier 1 (AT1) securities, a type of hybrid security which had its origins in fixed-rate converting preference shares first issued in the 1990s. The move came after a high profile Swiss bank came under intense financial pressure in March 2023 and regulators felt forced...