Concerns remain over contingent capital, legal experts warn

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Contingent capital instruments are gaining wider acceptance, but industry experts warn that the mechanism behind them still leaves questions open.

Thomas Humphreys, a partner at law firm Morrison & Foerster, warns of various concerns over the use of contingent capital, including the lack of a standardised market.

"What would be easiest, globally, is if we had one type of security and if everybody knew how it was structured, how it was going to trade and who was going to buy it. That would be

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