NEWS RELEASE
For Immediate Release
ISDA EMEA Credit Derivatives Determinations Committee:
SNS Bank Restructuring Credit Event
LONDON, February 13, 2013 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its EMEA Credit Derivatives Determinations Committee resolved that a Restructuring Credit Event occurred, under Section 4.7 (a)(ii) of the ISDA 2003 Credit Derivatives Definitions, in respect of SNS Bank NV.
The EMEA Determinations Committee agreed to hold a separate meeting on February 14, 2013 to discuss whether one or more Auctions should potentially be held.
ISDA will publish further information on its website, www.isda.org/credit, in due course.
For Press Queries, Please Contact:
Lauren Dobbs, ISDA New York, +1 212 901 6019, ldobbs@isda.org
Rose Millburn, ISDA London, +44 203 088 3526, rmillburn@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 has over 800 member institutions from 60 countries. These members include a broad range of OTC derivatives market participants including corporations, investment managers, government and supranational entities, insurance companies, energy and commodities firms, and international and regional banks. In addition to market participants, members also include key components of the derivatives market infrastructure including exchanges, clearinghouses and repositories, as well as law firms, accounting firms 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 EMEA Credit Derivatives Determinations Committee: SNS Bank Restructuring Credit Event
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