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Isda proposes oversight group for CDS process

New governance committee the “first step” in credit determinations revamp

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The International Swaps and Derivatives Association has proposed setting up a new governance committee to oversee changes in the structure and operations of groups tasked with deciding whether credit default swaps (CDSs) pay out.

If adopted, the proposal would represent the biggest shake-up in the market’s structure since the creation of CDS determinations committees (DCs) more than 15 years ago

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