# kaal:claim:1908473-005

**Claim.** Because policymakers may adopt a suboptimal single trigger design, and because contingent capital has uses at several points in a firm's life cycle, contingent capital securities should be built with sequential triggers rather than one.

**Type.** design  **Support.** argued

**Holds when.**

- Assumes mandatory issuance of contingent capital securities

**Source quote.**

> Given the risk that policymakers could structure contingent capital rules with a suboptimal trigger design combined with the multiple benefits of using contingent capital in different phases of a company's life cycle, this Article suggests a sequential trigger design for CCS.

**From.** Wulf A. Kaal, Christoph Henkel, *Contingent Capital with Sequential Triggers* (2011), I. INTRODUCTION, page 11

**Cite as.** Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011). SSRN: https://ssrn.com/abstract=1908473

**Verify.** sha256 of source PDF `9d578dac663357529edd1f6453fcfe69bdc59ac882408d9edfde5a4c2916befa` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Henkel%20-%202011%20-%20Contingent%20Capital%20with%20Sequential%20Triggers.pdf

**Topics.** contingent-capital, dynamic-regulation

**Keywords.** sequential-triggers, trigger-design, contingent-capital, regulatory-design

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/2061166-034
- extended_by: https://wulfkaal.github.io/claims/2957645-006
- extended_by: https://wulfkaal.github.io/claims/2957645-025

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