Hybrids in the news

Contingent Capital Is Not A Panacea For Banks

Bank contingent capital securities are instruments that convert, in certain circumstances, into either common equity or a hybrid capital instrument such as preferred stock

I should not have CoCo-ed?

Mostly pain, little gain at Lloyds

The bank intends to make an exchange offer for over £7.5 billion of this class of debt, swapping the bank's existing liabilities for a new class of instrument known as a "CoCo", or contingent convertible.

Contingent capital comes to pass, with a little help from the EC

Various Actions Taken On Hybrid Issues

Point of view of Standard and Poor's regarding the contingent convertibles issued by Lloyds