The ratio falls in the middle of all states, however.
These are bonds that turn into equity if the bank's capital ratio falls too low.
The worst-case scenario envisions that banks' capital ratio falls by only one percentage point, to 9%.
Bankers will have to give up deferred compensation if the bank's capital ratio falls below a certain level.
Companies see their shares marked down if the ratio falls, even when they pull the plug on dodgy, expensive projects.
They suggest that as the youth-dependency ratio falls, people of working age will save a higher proportion of their incomes.
But if one nets out the value of debt held by different branches of Japanese government, then the ratio falls to less than 140%.
The Barclays cocos will not convert into equity but merely fall away once the bank's capital ratio falls below 7% – which is why they are being called synthetic cocos.
A similar ratio falls in the 18 to 35 age bracket; and around 40 per cent of the homebrew trade relates to wine, of which white is the most common variety.
Curious readers may take this as a cue to flip ahead to Page 164, which is where (according to the Euclidean formula Cody graciously provides) the golden ratio falls in his own narrative.
The bank has also sold $1 billion of contingent capital, a financial instrument that offers investors a yearly return, but is wiped out if the bank's core Tier 1 ratio falls below a certain limit.
