@capturedecon (Twitter)

A new @CatoCMFA analysis by Robert Eisenbeis finds that CoCos, while potentially helpful to address over leverage, should not be a load-bearing feature of financial regulation. Instead "sliding scale" relief based on equity financing is preferable.

TWI #FinReg The importance of independence and rule-based policymaking at @federalreserve ; @CatoCMFA analysis of CoCos finds they're no substitute for comprehensive macropru reform; @InquiryWeai research on increased credit & hrs worked