
Contingent Convertible Bonds, Corporate Hybrid Securities and Preferred Shares
Instruments, Regulation, Management
- English
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Contingent Convertible Bonds, Corporate Hybrid Securities and Preferred Shares
Instruments, Regulation, Management
About this book
Thisbookisacomprehensiveguide tothenewgenerationofhybrid securities: subordinated and perpetual bonds with deferrable coupon first issued around 2003, and the youngest member of the hybrids family named CoCos (contingentconvertibles) being a product of Basel III or European Union CRD IV regime (2014). Contingent capital constitutes a contractual recapitalization mechanism for troubled financial institutions. An increasing number of European banks have issued CoCo bonds in order to bolster their capital ratios. Following the EU pattern, CoCos issues have become increasingly popular within banks inAsiaandthePacific. The EU regulatory treatment of the contingent convertibles issued by banks and insurers together with bank bail-in instruments is at the forefront of the book. Furthermore, the book provides an overview of hybrids pricing and risk assessment approach and covers the non-voting preferred stocks as another hybrids class.
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Information
Table of contents
- Cover
- Front Matter
- 1.Ā Contingent Convertibles Issued by EEA Banks
- 2.Ā CoCo Bonds and Bail-in Mechanism
- 3.Ā The Contingent Convertibles Pricing Models: CoCos Credit Spread Analysis
- 4.Ā Non-EEA Banksā and Insurersā CoCos
- 5.Ā Corporate Hybrid Securities and Preferred Shares
- Back Matter