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