Skip to main content
Powered By AICPA CIMA AICPA CIMA
 
 
 

Greek bailout triggers no payouts on credit default swaps 

March 02 2012

Investors holding bonds for Greek sovereign debt won’t be able to collect payouts on credit default swaps after the latest Greek bailout forced them to take losses on their holdings last week, according to The Wall Street Journal. The International Swaps and Derivative Association’s EMEA Determinations Committee voted Thursday that the bailout-induced write-down of Greek sovereign debt constituted no credit event and, therefore, would trigger no payout. Also: The New York Times | Financial Times | Bloomberg | Reuters

Don't miss out on additional news and features from CGMA Magazine.
Sign up for our free e-newsletter.

 



Be the first to leave a comment.


 
You must be a CGMA Designation Holder to comment
Login now