Arjani, Neville; Engert, Walter; Haddad, Anthony; Orsi, … - In: Journal of Banking Regulation 15 (2014) 3-4, pp. 205-217
This article discusses a financial instrument – non-viability contingent capital (NVCC) – that could help policymakers manage distress at systemically important banks, and facilitate their resolution with less risk to taxpayers. The article sets out the motivation for, and key features of,...