Regulators Asked If Credit Suisse AT1 Wipeout Should Trigger Insurance Payout

Bloomberg2023-05-11

A market participant asked if bond writedown is credit eventFunds have been piling into swaps tied to bank’s junior debtA derivatives panel tasked with overseeing the default swaps market has been ...

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2023-05-11
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Global investors have filed legal challenges against the regulator’s decision. Funds including FourSixThree Capital and Diameter Capital Partners have been buying these swaps on the basis that the writedown could prompt a potential payout of the derivative contracts, Bloomberg News reported. Market participants can submit questions to the panel if they think the terms in the swap contract that would prompt a payout have been met.","news_type":1,"symbols_score_info":{"UBS":0.9,"CS":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":true,"newsSizeData":{"likeSize":6,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.45.0","shortVersion":"4.45.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1147463027","isCrawlerRequest":true}