3B in Default swaps triggered in the Greek default.

Discussion in 'Wall St. News' started by noob_trad3r, Mar 9, 2012.

  1. http://www.bloomberg.com/news/2012-...illion-of-default-swaps-under-isda-rules.html

    A total 4,323 credit-default swap contracts may now be settled after ISDA’s determinations committee ruled the use of CACs is a restructuring credit event, according to a statement distributed today by Business Wire. Before the ruling, Greek swaps rose to a record $7.68 million in advance and $100,000 annually to insure $10 million of debt for five years.