Credit definitions for asset-backed securities will likely be published in December. Kimberly Summe, general counsel at ISDA, said its on schedule, but there are still some issues to resolve. "Voting rights and other issues are likely to come up," she noted. Loss events and failure to pay could also be different for CDS referenced to ABS and there are also variations depending on whether the trade is cash or physically settled.
CDS On ABS Due For Christmas
