ISDA publication of new LCDS protocol
August 3rd, 2007
The International Swaps and Derivatives Association, Inc. (ISDA) has announced publication of the 2007 LCDS Protocol.
The purpose of the LCDS Protocol is to facilitate the amendment of documentation for loan CDS transactions that reference the Syndicated Secured Loan Credit Default Swap Standard Terms Supplement (the “Old LCDS Terms”), which were published in 2006.
For transactions documented under the Old LCDS Terms, adhering to the LCDS Protocol will effect amendments to conform to new documentation standards under the Syndicated Secured Loan Credit Default Swap Standard Terms Supplement (the “New LCDS Terms”) published on May 22, 2007.
Adherence to the LCDS Protocol will achieve incorporating the New LCDS Terms in place of the Old LCDS Terms; and adopting the new form of Syndicated Secured Loan Credit Default Swap Physical Settlement Rider published by The Loan Syndications and Trading Association.
The Protocol is open to ISDA members and non-members alike. The adherence period for the Protocol will run up to 24th August.
Entry Filed under: FINWIRE®
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