?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=https%3A%2F%2Fmpra.ub.uni-muenchen.de%2F1567%2F&rft.title=Instrumentos+h%C3%ADbridos+de+capitalizacion+bancaria&rft.creator=Delfiner%2C+Miguel&rft.creator=Pailh%C3%A9%2C+Cristina&rft.subject=G28+-+Government+Policy+and+Regulation&rft.description=This+paper+reviews+the+markets+and+regulatory+framework+for+hybrid+financial+instruments%2C+with+special+focus+on+the+recent+regulatory+changes+allowing+banks+in+Argentina+to+hold+these+instruments+as+regulatory+capital.+These+assets+refer+to+a+wide+family+of+instruments+which+have+the+structure+of+bonds%2C+but+incorporate+equity-like+features+such+as+interest+deferral%2C+profound+subordination%2C+and+long+dated+tenor.+In+1998+the+Basel+Committee+on+Banking+Supervision+established+minimum+requirements+and+limits+for+these+instruments+to+be+included+in+Tier+1+capital.+As+a+consequence+markets+for+hybrids+expanded+considerably%2C+and+they+were+admitted+in+Canada%2C+the+United+States+and+various+Asian+and+European+countries.+In+the+Latin-American+region+they+were+admitted+in+Brazil+and+Mexico%2C+and+as+from+2006+also+in+Argentina.+In+addition%2C+these+securities+are+described+from+the+viewpoint+of+investors%2C+focusing+on+risk+and+related+costs%2C+which+contributes+to+the+understanding+of+the+regulation+that+applies+to+them.&rft.date=2006-12&rft.type=MPRA+Paper&rft.type=NonPeerReviewed&rft.format=application%2Fpdf&rft.language=en&rft.identifier=https%3A%2F%2Fmpra.ub.uni-muenchen.de%2F1567%2F1%2FMPRA_paper_1567.pdf&rft.identifier=++Delfiner%2C+Miguel+and+Pailh%C3%A9%2C+Cristina++(2006)%3A+Instrumentos+h%C3%ADbridos+de+capitalizacion+bancaria.++Published+in%3A+Central+Bank+Working+Papers+++(December+2006)++&rft.language=es