링크를 클릭하시면, 이 보고서의 한국어 버전을 보실 수 있습니다. 'http://ssrn.com/abstract=2919126' http://ssrn.com/abstract=2919126Designed to resolve failed banks via loss-sharing by shareholders and creditors, bail-ins were introduced to substitute bailouts, which are...

The contingent convertible bond (or CoCo) is designed as a bail-in tool, which is written down or converted to equity if the issuing bank is seriously troubled and thus its trigger is activated. The trigger could either be rule-based or discretion-based. I show theoretically that the bail-in is...