CDS financials index to relaunch – minus big bank names
Revamped index drops G-Sibs and adds BDCs, but questions remain around use cases
A credit default swap index referencing North American financial institutions is set to launch on April 13 – almost two years after its initial version was shelved over regulatory conflicts – but this time without the largest US banks as constituents.
The exclusion of global systemically important banks (G-Sibs) strips the index of one of the key selling points of S&P’s CDX Financials index. But
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