Category: Derivatives Regulation
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ISDA's CDS proposals possibly extreme measure
Recent proposals from ISDA have taken aim at minimising the possibility of manufactured credit events in CDS contracts. While it’s thought the marketplace will adopt the “modest” proposals, some suggest that they are possibly an unnecessary measure given the rarity of cases in which credit events have been manufactured.
Chris Arnold, partner at Mayer Brown, says that the main focus of the final proposal from ISDA is redefining failure to pay.
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