Hwang, Sunjoo - In: KDI Journal of Economic Policy 41 (2019) 4, pp. 1-44
if the issuing bank is seriously troubled and thus its trigger is activated. The trigger could either be rule-based or … bailin risk premiums on CoCos with discretion-based triggers are on average 1.13 to 2.91%p lower than CoCos with rule-based …