Similar reasoning is behind the Moody's prediction that 2008 will see the first subordinated sukuk issues out of the Gulf: "Unlike senior debt, subordinated debt could be more favourable to Islamic banks in terms of capital requirements and investors may be attracted by the potentially higher yield of the paper," it says.
Every departure from what has been asserted as "proper" and "fitting" from that very specific standpoint is dismissed as aberrant, and is ridiculed and subordinated.
In the end, the document was subordinated to a statement about a programme of austerity," he added.
The six-hour operation did not go well: after weeks in which his family kept a bedside vigil, joined by senior officials, Mr Chávez returned home last month, to die on March 5th at the age of 58.To the end, Mr Chávez's rule was narcissistic, with country and constitution subordinated to his whim.
The Fed, which administered controls through its Soviet-sounding "Division of Selective Credit Regulation", used them to suppress inflation while interest rates were subordinated to the Treasury's funding needs.
Importantly, we have introduced a tough resolution framework to combat moral hazard, a lesson from our own financial crisis in the 1990s.Based upon our principles, a bank's shareholders, subordinated debtholders, and management cannot expect to be rescued by taxpayers.
Setting a price for derivatives that have been repeatedly repackaged, overcollateralised and subordinated is difficult in any conditions.
CDS spreads on subordinated bank debt do not show much sign of a reaction (see chart).
Independence of thought is subordinated to the demands of rote learning.
He says that matters of state were subordinated to the day-to-day requirements of the "permanent campaign".Mr McClellan is also candid about his former White House colleagues.
Dresdner alone lost euro1.4 billion, mainly the product of euro2.2 billion of provisions against loans, both in Germany and abroad, that have turned bad.In line with most analysts' expectations, Allianz will raise up to euro5 billion of new capital, euro3.5 billion of it from new shares and euro1.5 billion from subordinated debt.
