Contingent convertible capital, also known as CoCos, are hybrid instruments designed to improve the loss absorption capacity of the issuer without involving injections of new equity or tax-payer bailouts. Stephanie Chan explores the impact of issuing CoCos for the financial system and for financial regulation as a whole.
S. Chan: Wake Me Up Before You Coco: Implications of Contingent Convertible Capital for Financial Regulation.
Prof. S.J.G. van Wijnbergen
Prof. E.C. Perotti
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