Contingent Convertible Bonds, Corporate Hybrid Securities and Preferred Shares

Instruments, Regulation, Management

Authors: Liberadzki, Marcin, Liberadzki, Kamil

Free Preview
  • Includes coverage of preferred shares
  • Covers global, European, US and Asia-Pacific CoCos
  • Applies an interdisciplinary approach, including mathematical, legal and financial  analysis
see more benefits

Buy this book

eBook $44.99
price for Brazil (gross)
  • ISBN 978-3-319-92501-1
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $59.99
price for Brazil
  • ISBN 978-3-319-92500-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

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.  


About the authors

Marcin Liberadzki is a professor at the Warsaw School of Economics (WSE), Institute of Finance, Poland. He holds master’s degrees in finance and banking (WSE) and law (the University of Warsaw, Faculty of Law, Poland), as well as a PhD in economic science from  WSE. He conducts research on Basel III / CRD IV banking regulatory regime, contingent convertible bonds and bank resolution. He is participant of research projects financed by the National Science Centre and National Bank of Poland. As an attorney-at-law, he runs the legal firm delivering expertise to the largest Polish banks. 

Kamil Liberadzki is a professor at the Warsaw School of Economics. He graduated from the Warsaw School of Economics (Finance and Banking Faculty) and the Law Faculty at the Warsaw University, Poland. He lectures on investment banking, investment portfolio modelling, bonds and hybrid securities and financial mathematics.  His expertise is on fixed income securities, including issue structuring, risk management and pricing. Liberadzki was a visiting professor an the University of Navarra (Spain) teaching and researching on bonds and hybrid securities. At present he is a director of the Regulation Development Department at the Polish Financial Supervision Authority. He is a member of the European Banking Authority (EBA) Standing Committee on Regulation and Policy (SCRePol) and an alternate member of the EBA Board of Supervisors (BoS).”

Table of contents (5 chapters)

Table of contents (5 chapters)

Buy this book

eBook $44.99
price for Brazil (gross)
  • ISBN 978-3-319-92501-1
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $59.99
price for Brazil
  • ISBN 978-3-319-92500-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.

Services for this book

Loading...

Bibliographic Information

Bibliographic Information
Book Title
Contingent Convertible Bonds, Corporate Hybrid Securities and Preferred Shares
Book Subtitle
Instruments, Regulation, Management
Authors
Copyright
2019
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-3-319-92501-1
DOI
10.1007/978-3-319-92501-1
Hardcover ISBN
978-3-319-92500-4
Edition Number
1
Number of Pages
XIX, 229
Number of Illustrations
1 b/w illustrations, 46 illustrations in colour
Topics