Contingent Capital : Economic Rationale and Design Features

Author/Editor:

Ceyla Pazarbasioglu ; Jianping Zhou ; Vanessa Le Leslé ; Michael Moore

Publication Date:

January 25, 2011

Electronic Access:

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Summary:

The causes of the global financial crisis were multi-faceted but revealed still unresolved weaknesses in national and international financial oversight and resolution frameworks. In particular, many governments in the crisis-hit countries had to provide unprecedented levels of support to contain the crisis and protect financial stability. These interventions have not only contributed to a significant increase in sovereign exposures but, in many countries, they have also risked weakening market discipline and worsening moral hazard.

Series:

Staff Discussion Notes No. 11/01

Subject:

English

Publication Date:

January 25, 2011

ISBN/ISSN:

9781462304141/2221-030X

Stock No:

SDNEA2011001

Price:

$10.00 (Academic Rate:$10.00)

Format:

Paper

Pages:

34

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