Market for CoCos could take years to develop, say Credit Institute panellists

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Investors remain unconvinced by the appeal of contingent convertible instruments, despite the recent push by regulatory bodies such as the Basel Committee on Banking Supervision for banks to issue them to meet more stringent capital requirements. That, at least, was the view of investor participants at the latest Credit Institute event, The Future for Banks After ‘Too Big to Fail’, held in London on December 2.

According to estimates, banks will need to boost capital by anywhere between $400 bil

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