Cadwalader allows sharing content.
Email to a friend or colleague:
From
To
Subject
Email As of April 3, 2012, the documentation and industry standards for municipal CDS transactions (“Muni CDS”) will be brought in line with the corporate and sovereign CDS market through several initiatives lead by ISDA and related publications by Markit. Cadwalader represented ISDA and Markit on these initiatives, which include the following features to enhance liquidity and transparency for Muni CDS: determinations Committee for the Americas Region will decide on Credit Events and other matters, mandatory auction settlement, rolling “look-backs” for Credit Events and Succession Events, Standardized Fixed Rate and full 3-month initial Calculation Periods, recovery assumption of 75%, changes to “Accreting Obligation” and “Accreted Amount” definitions and other Muni CDS-specific provisions, automatic trigger for “Restructuring Credit Event,” new or revised templates for many types of Muni CDS transactions. https://www.cadwalader.com/resources/clients-friends-memos/isda-march-2012-supplement-and-protocol-updating-muni-cds