Credit Event

May 22nd, 2013	ISDA Credit Derivatives Determinations Committee: Urbi Desarrollos Urbanos, S.A.B. de C.V. Failure to Pay Credit Event The International Swaps and Derivatives Association, Inc. (ISDA), today announced that its Americas Credit Derivatives Determinations Committee resolved that a Failure to Pay Credit Event occurred in respect of Urbi Desarrollos Urbanos, S.A.B. de C.V. The Committee determined that an auction will be held in respect of outstanding CDS transactions. ISDA will publish further information regarding the auction on its website, www.isda.org/credit, in due course.
April 2nd, 2013	ISDA Credit Derivatives Determinations Committee: Dex One Corporation and SuperMedia Bankruptcy Credit Event The International Swaps and Derivatives Association, Inc. (ISDA) announced yesterday that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Dex One Corporation and SuperMedia Inc. and other entities listed in their bankruptcy filings. ISDA will publish further information, including whether a CDS auction will be held, on its website, www.isda.org/credit, in due course.
February 13th, 2013	ISDA EMEA Credit Derivatives Determinations Committee: SNS Bank Restructuring Credit Event 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.
February 13th, 2013	ISDA EMEA Credit Derivatives Determinations Committee: Irish Bank Resolution Corporation Limited Bankruptcy Credit Event The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its EMEA Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Irish Bank Resolution Corporation Limited. The EMEA Determinations Committee agreed to hold a separate meeting on February 14, 2013 to discuss whether one or more Auctions should be held. ISDA will publish further information on its website, www.isda.org/credit, in due course.
December 18th, 2012	ISDA Credit Derivatives Determinations Committee: Edison Mission Energy Bankruptcy Credit Event The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Edison Mission Energy. The Committee determined that an auction will be held in respect of outstanding CDS transactions. ISDA will publish further information regarding the auction on its website, www.isda.org/credit, in due course.
November 27th, 2012	ISDA Asia Ex-Japan Credit Derivatives Determinations Committee: GTL Infrastructure Limited Restructuring Credit Event The International Swaps and Derivatives Association, Inc. (ISDA), today announced that its Asia Ex-Japan Credit Derivatives Determinations Committee resolved that a Restructuring Credit Event occurred in respect of GTL Infrastructure Limited. ISDA will publish further information on its website, www.isda.org/credit, in due course.
November 16th, 2012	ISDA Americas Credit Derivatives Determinations Committee: Overseas Shipholding Group, Inc. Bankruptcy Credit Event The International Swaps and Derivatives Association, Inc. (ISDA), today announced that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Overseas Shipholding Group, Inc.
May 25th, 2012	ISDA Asia Ex-Japan Determinations Committee: Sterling Biotech Limited Failure to Pay Credit Event The International Swaps and Derivatives Association, Inc. (ISDA), today announced that its Asia Ex-Japan Credit Derivatives Determinations Committee resolved that a Failure to Pay Credit Event occurred in relation to Sterling Biotech Limited. The Committee determined that an auction will not be held in respect of outstanding CDS transactions.
May 22nd, 2012	ISDA Americas Credit Derivatives Determinations Committee: Houghton Mifflin Harcourt Publishing Company Bankruptcy Credit Event The International Swaps and Derivatives Association, Inc. (ISDA), today announced that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Houghton Mifflin Harcourt Publishing Company. The Committee determined that an auction will be held in respect of outstanding CDS transactions. ISDA will publish further information regarding the auction on its website, www.isda.org/credit, in due course. The auction will be administered by Markit and Creditex.
May 15th, 2012	ISDA Americas Credit Derivatives Determinations Committee: Residential Capital a Bankruptcy Credit Event The International Swaps and Derivatives Association, Inc. (ISDA), today announced that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Residential Capital, LLC. The Committee determined that an auction will be held in respect of outstanding CDS transactions. ISDA will publish further information regarding the auction on its website, www.isda.org/credit, in due course. The auction will be administered by Markit and Creditex.

Derivsource Blog

SEF Rules Passed by CFTC this Week

After much anticipation, the CFTC passed final rules on the governance of swap execution facilities (SEFs) including rules on the minimum quotes required and swaps block rules.

Views vary on many elements of the newly approved rules with some industry participants believing the rules to be fair and others very problematic.

Regulation Timeline

Keep up with current regulatory reform activities with this reference guide. Derivsource's Derivatives Regulation Timeline