NEWS RELEASE
For Immediate Release
ISDA EMEA Determinations Committee: CDS Auction relating to The Hellenic Republic
LONDON, March 19, 2012 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced that the Auction in respect of outstanding CDS transactions relating to The Hellenic Republic has been successfully completed.
Please click here to view the Auction results.
The ISDA EMEA Credit Derivatives Determinations Committee resolved unanimously on March 9 that a Restructuring Credit Event had occurred with respect to The Hellenic Republic (Greece) under Section 4.7(a) of the ISDA 2003 Credit Derivatives Definitions (as amended by the July 2009 Supplement) following the exercise by The Hellenic Republic of collective action clauses to amend the terms of Greek law governed bonds issued by The Hellenic Republic such that the right of all holders of the Affected Bonds to receive payments has been reduced.
For Media Enquiries, Please Contact:
Rebecca O’Neill, ISDA London, +44 203 088 3586, roneill@isda.org
Rose Millburn, ISDA London, +44 203 088 3526, rmillburn@isda.org
Lauren Dobbs, ISDA New York, +1 212 901 6019, ldobbs@isda.org
About ISDA
Since 1985, ISDA has worked to make the global over-the-counter (OTC) derivatives markets safer and more efficient. Today, ISDA is one of the world’s largest global financial trade associations, with over 815 member institutions from 58 countries on six continents. These members include a broad range of OTC derivatives market participants: global, international and regional banks, asset managers, energy and commodities firms, government and supranational entities, insurers and diversified financial institutions, corporations, law firms, exchanges, clearinghouses and other service providers. Information about ISDA and its activities is available on the Association’s web site: www.isda.org.
ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc.
Documents (2) for ISDA EMEA Determinations Committee: CDS Auction relating to The Hellenic Republic
Latest
The CPI Quandary
The recent US government shutdown didn’t just create weeks of political drama – it also left inflation-linked swaps dealers with a major headache: how should they determine an initial value for new trades given the US Bureau of Labor Statistics...
ISDA Response to HMT, BoE on UK CCPs
On November 18, ISDA submitted its responses to the Bank of England (BoE) consultation on ensuring the resilience of central counterparties (CCPs) and the UK Treasury’s (HMT) two draft CCP statutory instruments (SIs). These consultations form part of the update...
Doubling Down on Appropriate Trading Book Capital
Throughout ISDA’s 40th anniversary year, we’ve been reflecting on the quest for greater consistency and efficiency that underpins everything we’ve achieved since 1985. It was at the heart of the original efforts to bring greater standardization to the nascent derivatives...
Determining Initial Reference Index for New Trades
On November 25, 2025, ISDA published a Market Practice Note (MPN) to recommend a specific methodology that market participants could elect to use for the purposes of determining the Initial Reference Index for certain new inflation derivative transactions given that...