Links: 2013-02-13

News links for 13 February 2013
The non-precedent setting, own-law making, secretive CDS committee is having a seriously bad month | FT Alphaville
"The original party that posed the question of whether a credit event has occurred with SNS did so anonymously. While the credit derivatives industry would perhaps like the casual observer to have the impression that this over-the-counter market is becoming more transparent — thank you, Dodd-Frank — the Isda committee passed a rule change in October 2009 that allows “general interest questions” to be passed to the committee without having to identify oneself.
In the case of SNS Bank, given the headache it’s causing, we’d bet it wasn’t a bank that raised this. We’d like to think their in-house counsel would have warned them against it, given t...

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