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Contingent Convertible Bonds And Public Policy: A New Approach

dc.contributor.author Pearkes, George
dc.date.accessioned 2012-05-14T12:36:58Z
dc.date.available 2012-05-14T12:36:58Z
dc.date.issued 2012-05-14
dc.identifier.uri https://hdl.handle.net/10161/5390
dc.description.abstract I investigate financial instruments called contingent convertible bonds (CoCos). CoCos are designed to recapitalize banks during financial crises. Regulation would mandate their issuance. I survey the structure of financial crises and develop a rationale for the instruments, then propose a specific set of characteristics for the bonds. Given those characteristics, I develop a pricing model and explore some implications of a regulatory mandate for their issuance. I conclude by rejecting them as a policy alternative.
dc.language.iso en_US
dc.subject contingent convertibles
dc.subject financial policy
dc.subject financial regulation
dc.subject financial crises
dc.title Contingent Convertible Bonds And Public Policy: A New Approach
dc.type Honors thesis
dc.department Public Policy Studies


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