A panel tasked with overseeing the credit default swaps market said that the writedown of Credit Suisse Group AG’s Additional Tier 1 notes will not trigger an insurance payout.
The Credit Derivatives Determinations Committee ruled at a meeting on Wednesday that the controversial wipeout of the high-risk bonds won’t lead to a payout of the default swaps tied to the bank’s subordinated debt, according to a notice on its website.
