(3)  Other discussions  In addition to these schemes, there have been many other proposals put forward to enable capital to be strengthened when financial institutions are in crisis, and they have served as the starting points for active discussions on how to deal with macro systemic risk. I would like to give you a brief overview of some of them.
The first is an instrument called a "catastrophe bond." Most people use the abbreviated form "cat bond." The issuer of this instrument is relieved of its obligation to repay principal to investors if certain conditions are satisfied.