The conditions and process for triggering CDS contracts - a case study of Greece 2012
(2015) JURM01 20151Department of Law
- Abstract
- The aim of this thesis has been to investigate the legal conditions and process for triggering Credit Default Swaps, which are derivative instruments to shift credit risk exposure between parties in an underlying financial instrument. The condition is called credit event and a case study has been done on the Greek credit event in 2012.
The thesis shows that there is a clear and robust framework on triggering credit default swaps. There are many conditions and documentation material associated to Credit Default Swap contracts and not all situations have been tested in practise. Therefore there has been and still exist uncertainty if a credit event will be decided under different circumstances. The Greek credit event in 2012 was a... (More) - The aim of this thesis has been to investigate the legal conditions and process for triggering Credit Default Swaps, which are derivative instruments to shift credit risk exposure between parties in an underlying financial instrument. The condition is called credit event and a case study has been done on the Greek credit event in 2012.
The thesis shows that there is a clear and robust framework on triggering credit default swaps. There are many conditions and documentation material associated to Credit Default Swap contracts and not all situations have been tested in practise. Therefore there has been and still exist uncertainty if a credit event will be decided under different circumstances. The Greek credit event in 2012 was a precedent regarding some circumstances, namely the usage of collective auction clauses, and debt swaps with conditions to not be bound by future collective auction clauses. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/7470876
- author
- Kärrlander, Erik LU
- supervisor
- organization
- course
- JURM01 20151
- year
- 2015
- type
- H3 - Professional qualifications (4 Years - )
- subject
- keywords
- Contract law, fiscal law, credit default swap, credit event, collective auction clause, determination committee.
- language
- English
- id
- 7470876
- date added to LUP
- 2015-06-30 17:44:24
- date last changed
- 2015-06-30 17:44:24
@misc{7470876, abstract = {{The aim of this thesis has been to investigate the legal conditions and process for triggering Credit Default Swaps, which are derivative instruments to shift credit risk exposure between parties in an underlying financial instrument. The condition is called credit event and a case study has been done on the Greek credit event in 2012. The thesis shows that there is a clear and robust framework on triggering credit default swaps. There are many conditions and documentation material associated to Credit Default Swap contracts and not all situations have been tested in practise. Therefore there has been and still exist uncertainty if a credit event will be decided under different circumstances. The Greek credit event in 2012 was a precedent regarding some circumstances, namely the usage of collective auction clauses, and debt swaps with conditions to not be bound by future collective auction clauses.}}, author = {{Kärrlander, Erik}}, language = {{eng}}, note = {{Student Paper}}, title = {{The conditions and process for triggering CDS contracts - a case study of Greece 2012}}, year = {{2015}}, }