Friday, March 9, 2012

CDS on Greek debt

Greece Deal Triggers $3B in Default Swaps: ISDA

Greece’s use of collective action clauses forcing investors to take losses under its debt restructuring triggers payouts on $3 billion of default insurance, the International Swaps & Derivatives Associationsaid.
A total 4,323 credit-default swap contracts may now be settled after ISDA’s determinations committee ruled the use of CACs is a restructuring credit event ...
Comment: No reason to get excited.

No comments:

Post a Comment