News Alert: Oversight agency: Greek deal is credit event, triggers payouts on bond insurance, AP reports

	Friday, March 9, 2012 3:19:27 PM ECONOMY/BUSINESS NEWS ALERT Oversight agency: Greek deal is credit event, triggers payouts on bond insurance, AP reports The agency that oversees financial derivatives says a massive debt relief deal for Greece constitutes a so-called credit event, meaning it will trigger payouts on bond insurance. The International Swaps and Derivatives Association said Friday that its determinations committee "resolved unanimously that a Restructuring Credit Event has occurred with respect to The Hellenic Republic." That means holders of credit default swaps on Greek bonds will be able to claim insurance payments as a result of Greece's decision to force its debt holders into a bond swap. Read more at: http://www.washingtonpost.com/world/europe/greece-secures-high-participation-in-critical-bond-swap-staves-off-default/2012/03/09/gIQA0YPY0R_story.html Or visit PostBusiness.com. SEND TO A FRIEND UNSUBSCRIBE E-MAIL CENTER GET HELP Washington Post Digital E-mail Customer Care 1150 15th Street NW Washington, D.C. 20071  ©2011 The Washington Post Privacy Policy