The global derivatives industry launched an Irish law version of its dispute resolution mechanism for trillions of euros of swaps contracts to “future-proof” users against the uncertainties presented by Brexit.
Thirteen of the biggest investment banks in the world were accused by the EU of colluding to curb competition in the $10tn credit derivatives industry.
Many of the world’s largest investment banks have been accused of secretly acting together to maintain fees they made from financial products known as credit derivatives.
Asian stock markets were mostly lower today after China’s trade figures underlined a slowdown in the world’s number two economy.
A massive debt relief deal for Greece constitutes a so-called credit event, meaning it will trigger payouts on bond insurance, the agency that oversees financial derivatives said.
BANK of Ireland won temporary European Union approval to receive as much as €5.35 billion from the Irish Government.
CREDIT-DEFAULT swaps on Allied Irish Bank will be settled at auctions after the International Swaps & Derivatives Association (ISDA) ruled there has been a failure-to-pay credit event.
AIB is hopeful of raising at least €1.6 billion of its re-stated capital requirements from ‘burning’ junior bondholders.
MILLIONS of dollars in insurance payments are set to be paid out to investors by derivatives traders in the wake of Allied Irish Banks burning junior bondholders.
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