Isda’s CDS fix draws murmurs of dissent

Proposed changes don’t go far enough for some; others say it will block legitimate activity

Questions

An industry-led effort to clamp down on manufactured credit defaults is running into criticism.

Some credit default swap (CDS) users say the changes proposed by the International Swaps and Derivatives Association don’t go far enough to fix the problem; others want more clarity on how the new creditworthiness test will work in practice. And there are growing calls for the comment period – which expires on April 10 – to be extended until the end of the month.

“This proposal goes a long way to

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