kaal:claim:2061166-029

Building critical mass in the contingent capital securities market could require banks and other financial institutions to buy their competitors' contingent capital securities, which would raise ethical, antitrust and incentive concerns.

Developing a critical mass for the market in contingent capital securities could require banks and other financial institutions to purchase their competitors' contingent capital securities.533 That could raise ethical, antitrust, and incentive concerns.

Christoph K. Henkel, Wulf A. Kaal, Contingent Capital in European Union Bank Restructuring (2012), A. Trigger Events, Uncertainty, Market Development, p. 65
https://ssrn.com/abstract=2061166 · source PDF

Christoph K. Henkel, Wulf A. Kaal, Contingent Capital in European Union Bank Restructuring (2012). SSRN: https://ssrn.com/abstract=2061166

• where non-bank demand is insufficient to absorb issuance volumes

failuresupport: arguedfailure: Cross-holding of contingent capital among competitorsfamily: systemic-risk-transmissioncontingent-capitalreputationeconomicssystemic-riskrisk-and-incentives

• extends kaal:claim:1998455-020 A mandatory contingent capital issuance regime induces institutions to buy their competitors' securities to sa...

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