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.department | Public Policy Studies | |
| 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.identifier.uri | ||
| 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 |