Before revision:  In important cases , we provide characterizations of cash subadditivity for general risk measures and show that, when the eligible asset is a defaultable bond, cash subadditivity is the exception rather than the rule.
After revision:  For important examples , we provide characterizations of cash subadditivity for general risk measures and show that, when the eligible asset is a defaultable bond, cash subadditivity is the exception rather than the rule.