{
 "@context": "https://schema.org",
 "@type": "Claim",
 "@id": "https://wulfkaal.github.io/claims/1998455-020",
 "identifier": "kaal:claim:1998455-020",
 "text": "A mandatory contingent capital issuance regime induces institutions to buy their competitors' securities to satisfy regulatory obligations rather than for economic reasons, and the resulting cross holdings among systemically important institutions undermine the ability of contingent capital to limit systemic risk and contagion.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
 },
 "citation": "Wulf A. Kaal, Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance (2012). SSRN: https://ssrn.com/abstract=1998455",
 "isBasedOn": {
  "@type": "ScholarlyArticle",
  "name": "Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance",
  "datePublished": "2012",
  "url": "https://ssrn.com/abstract=1998455",
  "sha256": "1c16ff10a284469ba15fb7ba5523449b917388ee692d9b394f9e8c094544e32c",
  "encoding": "https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202012%20-%20Initial%20Reflections%20on%20the%20Possible%20Application%20of%20Contingent%20Capital%20in%20Corporate%20Governance.pdf"
 },
 "keywords": [
  "systemic-risk",
  "risk-and-incentives"
 ],
 "about": [
  "cross-holdings",
  "mandatory-issuance",
  "systemic-risk",
  "contagion",
  "conflicts-of-interest"
 ],
 "abstract": "A detrimental result of such a practice could be CCS cross holdings among SIFIs. Cross holdings of CCS by SIFIs could undermine the effectiveness of CCS and its ability to limit systemic risk and contagion.",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "claim_type",
   "value": "failure"
  },
  {
   "@type": "PropertyValue",
   "name": "confidence",
   "value": "argued"
  },
  {
   "@type": "PropertyValue",
   "name": "scope_conditions",
   "value": [
    "under a regime requiring mandatory CCS issuance",
    "where SIFIs are permitted to purchase each other's CCS"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "is_failure_mode",
   "value": true
  },
  {
   "@type": "PropertyValue",
   "name": "attestations",
   "value": "https://wulfkaal.github.io/colloquium/attestations/cf45f6ea4d8a7f928156564d5b650b3cc42a8e26be30613cfb79f20f4bcea51b.json"
  },
  {
   "@type": "PropertyValue",
   "name": "edges",
   "value": [
    {
     "rel": "extended_by",
     "to": "https://wulfkaal.github.io/claims/2061166-029",
     "to_id": "kaal:claim:2061166-029",
     "similarity": 0.344
    }
   ]
  }
 ],
 "isPartOf": {
  "@id": "https://wulfkaal.github.io/claims/index.json"
 },
 "dateModified": "2026-07-27",
 "version": "1.0",
 "sha256": "cf45f6ea4d8a7f928156564d5b650b3cc42a8e26be30613cfb79f20f4bcea51b",
 "canonicalForm": "https://wulfkaal.github.io/claims/1998455-020.md"
}