# kaal:claim:2097160-018

**Claim.** To be effective, early triggers must be set well above the Basel III capital requirement threshold, and capital-ratio early triggers should be independent of regulatory demands about capitalization levels.

**Type.** condition  **Support.** argued

**Holds when.**

- early triggers expressed as capital ratios
- Basel III capital regime

**Source quote.**

> To be effective, early triggers should be well above the threshold for capital requirements under Basel III.164 But early triggers in the form of capital ratios should be independent of regulatory demands pertaining to capitalization levels.

**From.** Wulf A. Kaal, *Contingent Capital in Executive Compensation* (2012), V.B.1 Automatic Institution-Specific Early Trigger, page 39

**Cite as.** Wulf A. Kaal, Contingent Capital in Executive Compensation (2012). SSRN: https://ssrn.com/abstract=2097160

**Verify.** sha256 of source PDF `1e1f8aa246bce19f4658dbceb455c7c2a272aa5d63a9e9bdaa46a3a5a87680fc` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202012%20-%20Contingent%20Capital%20in%20Executive%20Compensation.pdf

**Topics.** systemic-risk, contingent-capital

**Keywords.** basel-iii, capital-ratio, early-trigger, regulatory-independence

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