Derivatives Overseer Rules Greek Debt Swap a “Credit Event,” Leading to CDS Payouts

By: Saturday March 10, 2012 11:30 am

The International Swaps and Derivatives Association ruled yesterday that the Greek debt restructuring deal will trigger about $3 billion in credit default swaps, a tiny fraction of the total CDS insurance on the loans. This makes the debt swap a partial “credit event,” or default. Billions of dollars are to be paid out in insurance-like [...]

 

Why Credit Default Swaps Interfere with Restructuring (and Why It Matters)

By: Thursday January 7, 2010 6:33 pm

The International Swaps and Derivatives Association says credit default swaps are innocuous. Consider the source.

SUPPORT FIREDOGLAKE
Follow Firedoglake
TODAY’S TOP POSTS
CSM Ads advertisement
Advertisement