TITLE

New Isda Documentation Boosts Recovery Swaps

AUTHOR(S)
Lewis, Janet
PUB. DATE
May 2006
SOURCE
Investment Dealers' Digest;5/22/2006, Vol. 72 Issue 20, p9
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the issuance of a new template for documenting recovery lock credit default swaps by the International Swaps and Derivatives Association (ISDA). The said template mandates a simpler structure for the instruments that have seen an upsurge in trading as bankruptcies. The new template is a single contract with no premium, in which the protection seller agrees to pay a set recovery rate in exchange for bonds in the event of a default.
ACCESSION #
20952161

 

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