Isda in Japan documentation change

New angles

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Japan’s credit derivatives dealers have opted to drop ‘obligation acceleration’ and ‘repudiation/moratorium’ from the list of credit events for standard credit default swap transactions, bringing Japan in line with the European and US credit derivatives markets.

The decision made by the International Swaps and Derivatives Association’s (Isda) Japan Credit Derivatives Working Committee came into effect on August 12. Following the changes, the list of credit events for standard credit der