CREDIT COMMENTARY
Sep 29, 2014
The ISDA basis reviewed
The introduction of ISDA 2014 CDS definitions has resulted in considerable contract basis for banks and sovereigns
- Subordinated basis is higher for peripheral banks
- Negligible basis on senior spreads
- Peripheral sovereigns have the largest basis
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This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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