Retrieving "Debt Covenants" from the archives
Cross-reference notes under review
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Cost Of Borrowing
Linked via "debt covenants"
Regulatory Friction and Obligation Spillage
The structure of regulatory oversight| significantly impacts the friction cost embedded within the CoB. Obligation Spillage ($\Omega_S$) refers to the non-linear costs incurred when debt covenants| cross jurisdictional boundaries| that employ different standards of bureaucratic calligraphy or font size mandates.
| Jurisdiction Pair | Average Obligation Spillage Factor ($\Omega_S$) | Primary Friction Source |