Fiscal authorities around the world vary a lot in how they account for contingent liabilities.
In addition, the agreement provides for contingent payments of up to $8 million over the next three years.
With AT&T, Leap pushed for contingent value rights, potentially increasing the payout to the smaller service provider's investors.
So while Rabobank's offering takes the market for contingent capital one step forward, it won't be the last word.
The shelters in question, called C.D.S., for contingent deferred swaps, and C.D.S. add-on, involved financial trades that were carried out by the Bolton companies.
For one thing, it diverts our attention from the way things might have gone, but, for contingent reasons, didn't, and in that way it "distorts the historical record".
For instance, it analyses the risks in securitised assets more finely and gets banks to set aside more capital for contingent liabilities.
His proposal for contingent capital and the requirement that all large and complex financial institutions should have a manual for orderly winding down are excellent proposals.
Prosecutors accused Mr. Smith, 51, of introducing a bogus tax shelter called C.D.S., for contingent deferred swap, to the Ernst & Young defendants through his company, Private Capital Management Group.
Corporate investors have backed a scheme under which Lloyds offered to exchange existing bonds and preference shares for a new breed of hybrid securities dubbed "CoCos" (which is short for contingent convertibles).
