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حسابداری و مالی::
وام غیرمرجح
But any bail-in, even of subordinated debt, was averted, as the German federal government kept footing the bill-with regulations still allowing this at the time.
Should the government have therefore prioritized any debt conversion opportunities or new private equity cap- ital, even if at the cost of huge write downs and some losses to subordinated debt holders?
Apart from the standardized processes, and the timely and professional way of working the mechanism is introducing (more along the lines of the "creative destruction" a la Schumpeter), the mechanism can count on the "burden shar- ing" (conversion into equity of subordinated debt so as to have other hybrid equity underwriters sharing the pains of a banking failure) and on the "bail in" procedures (progressive conversion as loss absorbing of all the remaining part of the liability structure, from the most junior to the most senior, with the sole exclusion of the quota of direct funding below the 100.000 Euro threshold that is guaranteed directly by the insurance fund on deposits).
And in failure, after the equity, the potential losses will reach out fast the remaining of the funding structure, from subordinated debts, to junior and then senior bonds and even sight deposits (above the minimum guaranteed).
The overall aim of a liquidation procedure is then to remove in an "orderly" way (e.g. avoid panic, negative side effects in the markets, but also speculation and market cornering) the failed bank from the market, recovering as much as possible from the competitive sale and wind down of the operating businesses and financial and real estate assets of the company-so as to distribute as much proceeds as possible, in due order, to the most senior credit holders, then to the junior and finally (if anything is left) to the subordinated debts and equity holders.
واژگان شبکه مترجمین ایران
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اقتصاد::
بدهی فرعی
In the model, banks are financed with equity, insured deposits, and risky, subordinated debt.
Optimal coupon on subordinated debt cL∗
Face value of subordinated debt L∗ 0.499
Credit spread on subordinated debt (basis points) 33.17
Face value of subordinated debt L∗ 0.468
واژگان شبکه مترجمین ایران