In issuing contingent capital, banks would have to pay a higher interest rate than they would on ordinary long-term debt, because debt investors will face the true cost of capital, not the government-subsidized cost. Over time, however, the interest-rate premium is likely to be small, because higher capital requirements and contingent capital should significantly reduce the likelihood of ever reaching the triggers.
在发行后备资金之时，银行将支付比长期债券更高的利率，因为债权人将承担发行资本的成本，而不是政府来承担救助费用。额外的利率支付将随着时间逐步变小，因为更高的资本准备金要求和后备资金将大幅减少事态的进一步恶化。