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Deutsche Bundesbank, Forschungszentrum, Frankfurt am Main >
Discussion Paper Series 2: Banking and Financial Studies, Deutsche Bundesbank >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/44598
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | von Furstenberg, George M. | | en_US |
| dc.date.accessioned | | 2011-02-23 | | en_US |
| dc.date.accessioned | | 2011-04-06T10:53:11Z | | - |
| dc.date.available | | 2011-04-06T10:53:11Z | | - |
| dc.date.issued | | 2011 | | en_US |
| dc.identifier.isbn | | 978-3-86558-679-7 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/44598 | | - |
| dc.description.abstract | | This study examines the promise of reducing expected resolution costs of financial institutions through either voluntary or mandated addition of contingently convertible debt securities to their long-term financing mix. I model the stochastic process by which an initially very well capitalized banking firm may come to violate its minimum capital maintenance requirement. Conversion of cocos then provides a second chance because the firm's initial capitalization is restored. Although regulatory insolvency remains a distant threat, the expected reductions in the cost of bankruptcy and hence the cost of capital are such that cocos may win a place in the liability structure of financial institutions without the need for mandates. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Deutsche Bundesbank Frankfurt am Main | | en_US |
| dc.relation.ispartofseries | | Discussion Paper Series 2: Banking and Financial Studies 2011,01 | | en_US |
| dc.subject.jel | | E44 | | en_US |
| dc.subject.jel | | G33 | | en_US |
| dc.subject.jel | | G38 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | financial reforms | | en_US |
| dc.subject.keyword | | regulatory insolvency | | en_US |
| dc.subject.keyword | | contingent capital | | en_US |
| dc.subject.keyword | | bank regulations | | en_US |
| dc.subject.keyword | | cocos | | en_US |
| dc.title | | Contingent capital to strengthen the private safety net for financial institutions: Cocos to the rescue? | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 647226642 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Discussion Paper Series 2: Banking and Financial Studies, Deutsche Bundesbank
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