A swaps panel has urged the US Treasury to temporarily allow trading in Russian assets A group of 13 banks and asset managers have asked the US Treasury’s Office of Foreign Assets Control (OFAC) to temporarily allow trading in credit default swaps (CDS) on Russian government bonds, Bloomberg reports, citing people familiar with the situation. The request reportedly refers to swaps that would allow investors who wagered on Moscow defaulting to be paid what they’re owed. At stake is a potential payout of $1.5 billion after the Credit Derivatives Determinations Committee (CDDC) ruled that Russia missed an interest pa
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