kaal:claim:2061166-037

Convergence of contingent capital standards is impeded by a first mover problem: single jurisdictions hesitate to impose contingent capital requirements before they know how competing jurisdictions and their financial institutions will structure their own rules.

This could partially be due to a first mover problem. Single jurisdictions could be hesitant to implement contingent capital requirements without first knowing how other jurisdictions and financial institutions that compete with their home institutions may structure their contingent capital rules.

Christoph K. Henkel, Wulf A. Kaal, Contingent Capital in European Union Bank Restructuring (2012), VII. CONVERGENCE, p. 71
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

• jurisdictions whose banks compete internationally

mechanismsupport: arguedfailure: First mover problem in contingent capital regulationfamily: collective-action-and-coordination-failurecontingent-capitaleconomics

• extends kaal:claim:1908473-021 Without a degree of international convergence in contingent capital rules, regulatory arbitrage could undermin...

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