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 [...]
|By: David Dayen Saturday March 10, 2012 11:30 am|
|By: masaccio Thursday January 7, 2010 6:33 pm|
The International Swaps and Derivatives Association says credit default swaps are innocuous. Consider the source.