CDS Governmental Intervention payment triggers: when can you rely on them?

JIBFL_2016_Vol31_Issue05_May_Cover.inddThis article considers the inaugural decision of the External Review Panel of the ISDA EMEA Determinations Committee as to whether a Governmental Intervention Credit Event had occurred upon the re-transfer of certain bonds from the bridge bank, Novo Banco S.A., back to Banco Espírito Santo, S.A. pursuant to a bank resolution measure, potentially entitling protection buyers to payment under their CDS contracts.

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JIBFL will be sharing two articles per month on-line only. They will be available on the Loan Ranger blog one month after publication in LexisLibrary.

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