ISDA excludes EM from asset package delivery under new credit defs

By Hazel Sheffield
18 Aug 2014

The International Swaps and Derivatives Association will not apply the asset package delivery clause found in the revised credit derivatives definitions to contracts executed in emerging markets when it is implemented in September.

In the new credit derivatives definitions, which ISDA published in February, sovereign and financial entities were not required to sign up for the protocol. For such institutions, it was believed the asset package delivery clause in the 2014 definitions will not apply to legacy transactions governed by the ...

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