The International Swaps and Derivatives Association, Inc., or ISDA, said Friday that its EMEA Credit Derivatives Determinations Committee resolved unanimously that a Restructuring Credit Event has occurred with respect to Greece.
The Committee resolved that a Restructuring Credit Event has occurred following the exercise by Greece of collective action clauses to amend the terms of Greek law governed bonds issued by the country such that the right of all holders of the affected bonds to receive payments has been reduced.
The Committee determined that an auction will be held in respect of outstanding CDS transactions on March 19.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.