New international regulatory standards on capital requirements for banks have left the market for hybrid debt issuance by banks “in run-off”, according to one analyst, because the credit banks get for holding such securities has been reduced, making it less attractive for financial issuers to bring these securities to market.

The Basel Committee on Banking Supervision set its announcement date of the new standards just over a week ago, as the point at which existing securities could be considered for "grandfathering" - or inclusion under the old framework.