RiskNews review

RiskNews review

RISK MANAGEMENT

The International Swaps and Derivatives Association has published a new set of credit derivatives definitions. Bob Pickel, chief executive of the trade body, says the updated definitions “reflect changes in industry dynamics over the past three years”. Major changes in Isda’s latest definitions, compared with its 1999 set, include: a new test for identifying the successor to a reference entity, and amendments to credit events such as bankruptcy, repudiation, moratori

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