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The conditions and process for triggering CDS contracts - a case study of Greece 2012

Kärrlander, Erik LU (2015) JURM01 20151
Department 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)
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author
Kärrlander, Erik LU
supervisor
organization
course
JURM01 20151
year
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},
  keyword      = {Contract law,fiscal law,credit default swap,credit event,collective auction clause,determination committee.},
  language     = {eng},
  note         = {Student Paper},
  title        = {The conditions and process for triggering CDS contracts - a case study of Greece 2012},
  year         = {2015},
}