Tags: cds
More Shadows Appear in the Greek CDS Fog
March 12th, 2012
in econ_news
Econintersect: A number of correspondents (see hat tips end of article) have pointed out several descriptions of the credit event that was declared Friday (March 09) by ISDA (International Swaps and Derivatives Association). The announcement that a “Re… more »
Greek CDS Wars
March 11th, 2012
in econ_news
Econintersect: Credit default swaps (CDS) are agreements between parties that one party will pay another party a specified amount if a default in a specified debt security or failure of a specified entity occurs. The party that buys a CDS is to be paid… more »
Greece Smolders
January 23rd, 2012
in econ_news
Econintersect: Talks to avoid a Greek sovereign debt default have gone on all the past week. The write down of 22% of face value (the discussion point six months ago) and the more recent proposal for a 50% haircut have been replaced by as much as a 70%… more »
GAO: New York Fed Failed to Act in Taxpayers' Interest
November 1st, 2011
in econ_news
Econintersect: The U.S. GAO (General Accountability Office) has issued a report that questions the Federal Reserve Bank of New York’s (NY Fed building pictured) handling of the 2008 bailout of American International Group. An article in today’s New York… more »
Banking Insider: Sovereign Debt CDS Story Not Over
November 1st, 2011
in Background
Econintersect: The “voluntary” haircuts for European banks have been deemed by the European heads of states to be not an event that would trigger CDS on Greek sovereign debt. CDS are Credit Default Swaps, essentially insurance bought by one party and sol… more »
