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Contingent Convertible Bonds, Corporate Hybrid Securities and Preferred Shares

Instruments, Regulation, Management

  • Marcin Liberadzki
  • Kamil Liberadzki
Book

Table of contents

  1. Front Matter
    Pages i-xix
  2. Marcin Liberadzki, Kamil Liberadzki
    Pages 1-82
  3. Marcin Liberadzki, Kamil Liberadzki
    Pages 83-121
  4. Marcin Liberadzki, Kamil Liberadzki
    Pages 123-148
  5. Marcin Liberadzki, Kamil Liberadzki
    Pages 149-165
  6. Marcin Liberadzki, Kamil Liberadzki
    Pages 167-210
  7. Back Matter
    Pages 211-229

About this book

Introduction

This book is a comprehensive guide to the new generation of hybrid securities: subordinated and perpetual bonds with deferrable coupon first issued around 2003, and the youngest member of the hybrids family named CoCos (contingent convertibles) being a product of Basel III or European Union CRD IV regime (2014). Contingent capital constitutes a contractual recapitalization mechanism for troubled financial institutions. An increasing number of European banks have issued CoCo bonds in order to bolster their capital ratios. Following the EU pattern, CoCos issues have become increasingly popular within banks in Asia and the Pacific. The EU regulatory treatment of the contingent convertibles issued by banks and insurers together with bank bail-in instruments is at the forefront of the book. Furthermore, the book provides an overview of hybrids pricing and risk assessment approach and covers  the non-voting preferred stocks as another hybrids class. 


Keywords

CoCos CoCo bonds Banking regulation Basel III Financial instruments Financial stability European Hybrid Securities US Hybrid Securities Asia-Pacific Hybrid Securities Contagion effect Portfolio risk modelling Bonds Banks Insurers CRR CRD IV Additional Tier One (AT 1) Tier 2 Resolution

Authors and affiliations

  • Marcin Liberadzki
    • 1
  • Kamil Liberadzki
    • 2
  1. 1.Department of FinanceWarsaw School of EconomicsWarszawaPoland
  2. 2.Department of FinanceWarsaw School of EconomicsWarszawaPoland

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-92501-1
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2019
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-92500-4
  • Online ISBN 978-3-319-92501-1
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking