Leta i den här bloggen

2012-03-09

Greek Event

The International Swaps and Derivatives Association said Friday

that the Greek government's use of collective-action clauses, or CACs, to amend to terms of Greece-issued bonds qualifies as a "credit event" for Greece. A credit event requires a payout to those who held credit default swaps as insurance to protect themselves in the event of a Greek default.

The ISDA decision could trigger payouts on $3.2 billion of those insurance-like contracts

MarketWatch, 9 March 2012

Inga kommentarer: