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 "text": "Contingent capital may be more efficient than simply raising capital requirements, because the capital injection is available only when it is needed and, when triggered, only as much of the contingent capital converts as is necessary to recapitalize the firm.",
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  "name": "Wulf A. Kaal",
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 "citation": "Kaal, Dynamic Regulation via Contingent Capital (2017). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2957645",
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 "abstract": "Further, contingent capital may be more efficient than raising capital requirements, because the capital injection is available only when it is needed45 and, when triggered, only enough CCS converts as is necessary to recapitalize the firm.46",
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