Tuesday, November 17, 2009

Bullock, Guerrera: Wall Street and Fed in discussions over CoCos

Standard & Poor's, the credit rating agency, warned on Tuesday that contingent convertibles were "not a panacea" for banks' efforts to bolster their capital.

"We see contingent capital securities as introducing another potential tool to manage the capital base in times of stress. However, they are not being designed by banks to address the need to repair existing weak balance sheets."

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