Parker Credit Derivatives

Credit Derivatives: Understanding and Working with the 2014 ISDA Credit Derivatives Definitions
1. Auflage 2017
ISBN: 978-1-78742-027-4
Verlag: Globe Law and Business
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 560 Seiten, EPUB

Credit derivatives have emerged from the financial crisis as a stronger and more robust product, heavily used by financial institutions, corporations, insurers, asset managers and pension funds. Much of the original title, Credit Derivatives: Documenting and Understanding Credit Derivative Products, focused on the 2003 ISDA Credit Derivative Definitions. With the launch of the 2014 ISDA Credit Derivatives Definitions, which became market standard definitions for documenting credit derivatives transactions on 6 October 2014, this new edition provides similarly detailed and comprehensive analysis of the heavily updated 2014 Definitions.

This book covers the 2014 Definitions in detail, while also discussing the differences with the predecessor definitions. This practitioner-oriented title also covers auction settlement, the DC Rules, POB Rules, SRO Rules and the Determinations Committees, as well as looking in detail at the products that the 2014 Definitions are used with, such as single name and index credit default swaps, and structured products.

The new edition provides practical reading for lawyers, whether in private practice or in-house, and all credit derivatives market participants looking to gain a solid understanding of the new definitions.

Author Edmund Parker is the global head of Mayer Brown’s Derivatives & Structured Products practice and an internationally recognised leading expert in the field.

Autoren/Hrsg.

Parker, Edmund

Fachgebiete

• Rechtswissenschaften Wirtschaftsrecht Bank- und Versicherungsrecht Bank-, Sparkassen- und Börsenrecht
• Rechtswissenschaften Wirtschaftsrecht Kapitalmarkt- und Wertpapierrecht

Inhaltsverzeichnis

Foreword 5
Part I. Overview of Credit Derivatives
Introduction to credit derivatives 7
Types of credit derivative products used with the 2014 ISDA Credit Derivatives Definitions 31
Single Name Credit Default Swaps 71
Index Credit Default Swaps 101

Part II. Overview of the 2014 ISDA Credit Derivatives Definitions
Differences between the 117 2003 and 2014 ISDA Credit Derivatives Definitions 117
Overview of the 2014 ISDA Credit Derivatives Definitions 175

Part III. 2014 ISDA Credit Derivatives Definitions in detail
Introduction, preamble 251
and Article I – Certain General Definitions
Article II – Terms Relating to the Reference Entity and the Reference Obligation 283
Article III – Terms Relating to Obligations and Deliverable Obligations 307
Article IV – Credit Events 337
Article V – General Terms Relating to Settlement 349
Article VI: Terms Relating to Auction Settlement 353
Article VII – Terms Relating to Cash Settlement 363
Article VIII – Terms Relating to Physical Settlement 381
Article IX – Fallback Provisions Applicable to Physical Settlement 397
Article X – Effect of DC Resolutions 411
Article XI – Additional Representations and Agreements of the Parties 415
Article XII – Initial Payment Amount, Fixed Amounts and Floating Rate Payer Calculation Amount 421
Article XIII – Credit Derivatives Physical Settlement Matrix 431
Article XIV – Non-Standard 437
Event Determination Date and Non-and Non-Standard Exercise Cut-off Date 437
Part IV. Ancillary Topics
Supporting documentation and Supplements to the 2014 Definitions 443
The ISDA Credit Derivatives Determinations Committees, DC Rules, SRO Rules and POB Rules 459
Credit Derivatives Auction 519
Settlement Terms
About the author 551