Credit event: Difference between revisions
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{{g}}Essentially a synthetic form of an {{isdaprov|Event of Default}} on a specified | {{g}}Essentially a synthetic form of an {{isdaprov|Event of Default}} on a specified “[[reference obligation]]”, a [[credit event]] is the trigger event under a [[credit derivative]], justifying payout under a [[credit default swap]]. Once upon a time, being a [[2003 ISDA Credit Derivative Definitions|credit derivative]]s expert was very, very sexy: since the middle of 2007, it has been more of a dark stain, buried deep on your CV, that only comes out late at night when you are deep into the whiskey, the bitter tears flow about how it might have been, as an immediate prelude to transgressing the [[Schwarzschild radius of alcohol consumption]], whereupon the pain goes away, everything goes fuzzy and you atomise into the background [[Entropy|entropic]] radiation of the [[boredom heat-death]] of the universe. | ||
{{sa}} | {{sa}} | ||
*{{isdaprov|Credit Event Upon Merger}} under the {{isdama}} | *{{isdaprov|Credit Event Upon Merger}} under the {{isdama}} | ||
*[[2003 ISDA Credit Derivative Definitions]] | *[[2003 ISDA Credit Derivative Definitions]] | ||
*[[Entropy]] | *[[Entropy]] | ||
Revision as of 10:04, 19 June 2019
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Essentially a synthetic form of an Event of Default on a specified “reference obligation”, a credit event is the trigger event under a credit derivative, justifying payout under a credit default swap. Once upon a time, being a credit derivatives expert was very, very sexy: since the middle of 2007, it has been more of a dark stain, buried deep on your CV, that only comes out late at night when you are deep into the whiskey, the bitter tears flow about how it might have been, as an immediate prelude to transgressing the Schwarzschild radius of alcohol consumption, whereupon the pain goes away, everything goes fuzzy and you atomise into the background entropic radiation of the boredom heat-death of the universe.