Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Monday, March 9, 2009

Senior Supervisors Group Releases Report on Management of CDS Activity

The Senior Supervisors Group (which comprises senior financial supervisors from seven countries --United States, Canada, France, Germany, Japan, Switzerland, United Kingdom) today issued a report that assesses how firms manage their credit default swap activities related to the settlement of credit derivatives transactions terminated by the occurrence of a credit event.  This report — Observations on Management of Recent Credit Default Swap Credit Events — summarizes a review that the Senior Supervisors Group initiated in December 2008. The observations in the report are based on discussions with senior members of selected institutions, comprising major dealers, buy-side firms, service providers, and an industry association:

Surveyed participants reported that recent credit events were managed in an orderly manner, with high participation rates and no major operational disruptions or liquidity problems.

http://lawprofessors.typepad.com/securities/2009/03/senior-supervis.html

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