NEWS RELEASE
For Immediate Release
ISDA Americas Credit Derivatives Determinations Committee:Residential Capital a Bankruptcy Credit Event
NEW YORK, May 15, 2012 – The International Swaps and Derivatives Association, Inc. (ISDA), today announced that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Residential Capital, LLC.
The Committee determined that an auction will be held in respect of outstanding CDS transactions. ISDA will publish further information regarding the auction on its website, www.isda.org/credit, in due course. The auction will be administered by Markit and Creditex.
For Media Enquiries, Please Contact:
Lauren Dobbs, ISDA New York, +1 212 901 6019, ldobbs@isda.org
Rebecca O’Neill, ISDA London, +44 203 088 3586, roneill@isda.org
Donna Chan, ISDA Hong Kong, +852 2200 5906, dchan@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 830 member institutions from 59 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 (1) for ISDA Americas Credit Derivatives Determinations Committee: Residential Capital a Bankruptcy Credit Event
Latest
ISDA Launches RFP for Trade Eligibility Solution
ISDA has launched a request for proposal (RFP) for the development of a trade reporting eligibility tool for use alongside the ISDA Digital Regulatory Reporting (DRR) solution. The eligibility tool is intended to provide analysis on whether a derivatives transaction...
Joint Response to ETS Review
On November 2, ISDA and the Association for Financial Markets in Europe submitted a joint statement on the European Commission’s call for feedback on the review of the EU Emissions Trading System (ETS). The response highlights the importance of a...
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.
ISDA Publishes ISDA SIMM® Methodology, Version 2.9+2606
Following the 2026 primary calibration exercise, ISDA is pleased to publish ISDA SIMM® version 2.9+2606. This version incorporates updates arising from the recalibration of the model using historical data up to and including 30 June 2026. The ISDA SIMM methodology...