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Contingent convertibles [CoCos] : a potent instrument for financial reform /
Contingent Convertibles (CoCos) represent debt that is subject to being converted automatically into common equity under pre-specified terms of conversion if the chosen regulatory capital ratio falls to a level triggering conversion. CoCos are that subspecies of contingent capital that references re...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
New Jersey :
World Scientific,
[2014]
|
| Colección: | World Scientific--Now Publishers series in business ;
v. 5. |
| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- pt. I. Foundations. 1. Introduction
- 2. Overview of Basel III implementation most relevant for Cocos
- 3. Cocos and the struggle to preserve going-concern value
- 4. The treatment of TBTF financial institutions in the last crisis
- 5. Strategic policy objectives in privatizing the TBTF backstop
- pt II. Why Cocos? 6. High-trigger Cocos compared with other bailinable debt
- 7. Self-insurance with Cocos compared to common equity
- 8. Automatic Cocos conversion vs. voluntary restructuring
- 9. Reasons for having Cocos liabilities on the balance sheet
- pt. III. Varieties of Cocos design and rationales. 10. Determining conversion price and risk premium in Cocos
- 11. Write-down-only Cocos
- 12. Actual or prospective recovery rates from converting Cocos
- 13. Government capital injections and bailout Cocos
- 14. Misuses of Cocos in government-led recapitalizations of banks
- pt. IV. Policy choices and essentials for Cocos' success. 15. The tax treatment of the interest paid on Cocos
- 16. Major credit rating agencies' approaches to rating Cocos
- 17. Regulatory requirements at cross-purposes
- 18. Conclusions and recommendations for Cocos design and evaluations.