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S&P Credit Research2311 word report
published Nov 10, 2009
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S&P Credit Research
| Abstract: | Bank contingent capital securities are instruments that convert, in certain circumstances, into either common equity or a hybrid capital instrument such as preferred stock. Unlike many types of convertible bonds, bank contingent capital securities are designed to convert if a particular stress trigger is breached. Banking regulators and several banks are interested in these instruments as a way to build a contingency into the balance sheet that would bolster capital in a time of stress. One of the attractions of this contingent form of capital is that it adds a different strand to bank capital management strategy. The situations in which contingent capital securities convert into equity would also be transparent for investors from the start. There are certain practical
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| Brief Excerpt: | RESEARCH Ratings Definitions Contingent Capital Is Not A Panacea For Banks Publication date: 10-Nov-2009 Primary Credit Analyst: Michelle Brennan, London (44) 20-7176-7205; michelle_brennan@standardandpoors.com Secondary Credit Analysts:...
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| Report Type: | Commentary
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| Sector: | Global Issuers
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
