Question about Greece accepted by ISDA determinations committee

By Angela McDaniels

Tacoma, Wash., Feb. 28 - The International Swaps and Derivatives Association, Inc.'s EMEA determinations committee will determine whether a credit event has occurred with respect to Greece, according to an ISDA announcement.

ISDA said on Monday that a question about Greece had been submitted to the committee. On Tuesday, it announced that the committee accepted the question for deliberation.

The committee's meeting to determine whether a credit event has occurred will be held at 6 a.m. ET on Thursday.

On Friday, Greece announced the terms of a distressed exchange offer it will hold for €206 billion of its bonds. It will seek consent to exchange €177 billion of additional bonds on the same terms.

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