Mega-Banks' Self-Insurance with Cocos: A Work in Progress

George von Furstenberg

Chapter 4 in Global Credit Review:Volume 2, 2012, pp 53-77 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:INTRODUCTIONSection OutlineGOING-CONCERN VS. GONE-CONCERN COCOSTHE COCOS INSTRUMENT TO BE CONSIDEREDTHE COCOS ISSUERSMETHODS FOR COCOS CONVERSION AND REDISTRIBUTIONThe Distributionally Neutral “Fair Rule,” FR, the Benchmark for DilutionThe CS, CS-min, and LBG Conversion Methods Actually Used So FarRedistribution from Conversion under the Different MethodsAn Application of the Book-Value Based Fair Rule (FR) of ConversionCoping with the Reporting Lag under the Accounting-Based Fair RuleCOCOS UPDATES AND CALCULABILITYCOCOS AND DEBT OVERHANGWhy Issue Go-Cocos Rather than Common Equity?U.S. TAX ISSUES WITH COCOS?Tax Aspects of Debt Write-OffCOCOS IN CONVERTIBLE BOND INDEXES?CONCLUDING COMMENTS ON DATA AND FINANCING COST RELATIONSA First Harvest of Stylized FactsCDS-Pricing of CocosKey Findings and ConclusionsNOTESREFERENCES

Keywords: Credit Ratings; Credit Risk; Credit Markets; Financial Regulation; Financial Markets; European Sovereign Crisis (search for similar items in EconPapers)
Date: 2012
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Journal Article: Mega-Banks' Self-Insurance with Cocos: A Work in Progress (2012)
Working Paper: Mega-Banks' Self-Insurance with Cocos: A Work in Progress (2012)
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