DC to consider second request to trigger Credit Suisse CDS
Last-ditch effort hinges on whether the bank was, or said it was, unable to pay its debts
A day after it rejected an effort to trigger a pay out on credit default swaps referencing Credit Suisse, a committee of banks and buy-side firms has been asked to again consider whether the bank defaulted on its debts.
The Credit Derivatives Determinations Committee ruled on Tuesday (May 17) that the Swiss financial regulator Finma’s decision to wipe out Additional Tier 1 bonds in March did not constitute a governmental intervention that could have triggered CDSs written on the Swiss lender
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