kaal:claim:2273857-057

Institution specific automatic triggers in contingent capital securities are flexible and can be tailored to the parties' needs precisely because they operate independently of regulatory discretion.

Because institution-specific automatic triggers are independent from regulatory discretion, they have the advantage of being flexible and can be tailored to the parties' respective needs.

Wulf A. Kaal, Dynamic Regulation of the Financial Services Industry (2013), IV. Implementation, p. 28
https://ssrn.com/abstract=2273857 · source PDF

Wulf A. Kaal, Dynamic Regulation of the Financial Services Industry (2013). SSRN: https://ssrn.com/abstract=2273857

• triggers are privately negotiated and automatic

mechanismsupport: arguedcontingent-capitalrisk-and-incentives

• restates kaal:claim:2097160-017 Institution-specific automatic triggers are the preferred basis for early trigger designs because they are fle...

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