Contingent capital securities: an overview | Practical Law
https://content.next.westlaw.com/practical-law/document/I8417b2301cb111e38578f7ccc38dcbee/Contingent-capital-securities-an-overview?viewType=FullText&transitionType=Default&contextData=(sc.Default)This article provides a brief overview of the principal structuring, legal, tax, regulatory and ratings considerations related to the issuance of contingent capital securities, which are a type of hybrid security. In particular, it: provides a general overview of contingent capital securities; examines how hybrid securities performed during the financial crisis; outlines the regulatory reforms introduced in the wake of the financial crisis; considers the emergence of contingent capital instruments; reviews the terms of some specific contingent capital securities; and discusses various legal, tax and ratings considerations.
Law stated as at 01 Apr 2016 • European Union, International, USA (National/Federal)
This article provides a brief overview of the principal structuring, legal, tax, regulatory and ratings considerations related to the issuance of contingent capital securities, which are a type of hybrid security. In particular, it: provides a general overview of contingent capital securities; examines how hybrid securities performed during the financial crisis; outlines the regulatory reforms introduced in the wake of the financial crisis; considers the emergence of contingent capital instruments; reviews the terms of some specific contingent capital securities; and discusses various legal, tax and ratings considerations.