kaal:claim:1908473-028

The second trigger should be an objective, automatic, institution specific trigger, with improvement measured through a combination of debt to equity ratio improvement and credit default swap spread narrowing after conversion.

Source quote, verbatim

the approach of this Article favors an objective automatic institution-specific second trigger for the voting rights increase. The improvement of the financial institution could be measured objectively through a combination of debt-equity ratio improvement and CDS spread narrowing after conversion.

From

Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011), IV.B.1. Objective Automatic Institution-Specific Trigger, p. 38
https://ssrn.com/abstract=1908473 · source PDF

Cite as

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

Holds when

The precise arithmetic must be institution specific

Classification

designsupport: arguedcontingent-capital

Related claims

extended_by kaal:claim:2097160-017 Institution-specific automatic triggers are the preferred basis for early trigger designs because they are fle...

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