Technical standards and CoCo bonds : a new avenue for civil liability

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dc.contributor.authorSEDANO VARO, Elena
dc.date.accessioned2025-05-30T13:24:42Z
dc.date.available2025-05-30T13:24:42Z
dc.date.issued2020
dc.descriptionPublished online: 10 November 2020
dc.description.abstractThis chapter investigates the evolution of the regulatory framework for CoCo bonds in the context of the Banking Union. CoCos are highly sophisticated financial instruments used to enhance the capital of banks under the Basel III framework. The early triggering of their loss absorbing features is supposed to work as a buffer in cases of financial distress. But contrary to the initial intention of regulators, CoCos have never absorbed losses in a preventive manner. This is because their triggering requires the acknowledgement of an important capital downfall, an event that can damage the solvency and reputation of a bank. This chapter illustrates this point using the resolution of Banco Popular Espa-ol as an example. It also examines the potential for civil liability in the context of the EU regulation of capital instruments and its application in the multi-level Banking Union, thereby bringing together various important dimensions of the current regulatory framework for CoCos.
dc.identifier.citationOlha O. CHEREDNYCHENKO and Mads ANDENAS (eds), Financial regulation and civil liability in European law, Cheltenham ; Northampton : Edward Elgar Publishing, 2020, pp. 264–283
dc.identifier.doi10.4337/9781789908114.00021
dc.identifier.isbn9781789908107
dc.identifier.isbn9781789908114
dc.identifier.urihttps://hdl.handle.net/1814/92773
dc.language.isoen
dc.publisherEdward Elgar Publishing
dc.relation.isreplacedbyhttps://hdl.handle.net/1814/75293
dc.titleTechnical standards and CoCo bonds : a new avenue for civil liability
dc.typeContribution to book
dspace.entity.typePublication
person.identifier.other39156
relation.isAuthorOfPublicationc5984c43-e7f6-4934-b77a-b937461df648
relation.isAuthorOfPublication.latestForDiscoveryc5984c43-e7f6-4934-b77a-b937461df648
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