Auction Sets Lehman Credit Swap Payouts

October 2008
American Banker;10/14/2008, Vol. 173 Issue 198, p11
Trade Publication
The article discusses the results of an auction which was held to determine the percentage that sellers of credit-default protection will have to pay out in order to settle accounts related to the bankruptcy of Lehman Brothers Holdings Inc. The resulting figure was just over 91 cents on the dollar, which is expected to generate the largest payout in history for the derivatives market.


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