On January 4, 2011 the Credit Derivatives Determinations Committee for EMEA resolved that one or more auctions may be held in respect of Anglo Irish Bank Corporation Limited following its resolution on December 23, 2010 that a Restructuring Credit Event occurred. This page contains details of the DC Resolutions, auction documentation and other items relating to the auction for Anglo Irish Bank Corporation Limited. This is a subsequent and separate Credit Event to that which the EMEA Credit Derivatives Determinations Committee resolved on November 23, 2010 and which was settled following Auctions held on December 9, 2010.
Further documentation relating to the auction will be added as it becomes available.
Event Publicly Available Information:
| Auction Timeline: | CDS Credit Event Timeline |
| List of Participating Bidders: | List of Participating Bidders |
| Deliverable Obligations: | Final List of Deliverable ObligationsThe Exercise Cut-off Date for a Seller wishing to deliver a Credit Event Notice expired on Wednesday 19th January 2011. The Exercise Cut-off Date for a Buyer wishing to deliver a Credit Event Notice expired on Monday 24th January 2011. A combined Auction washeld on Wednesday 2nd February 2011 to settle the groups of Triggered Transactions in respect of the 2.5 year Maturity Bucket for Senior Obligations and the 2.5 year Maturity Bucket for Subordinated Obligations only. No other Auctions will be held. The Movement Option Cut-off Date was Friday 28th January 2011.
For Credit Derivative Transactions with Scheduled Termination Dates that fall within a Maturity Bucket for which no Auction will be held and in respect of which a Buyer had not effectively exercised the Movement Option on or prior to the Movement Option Cut-off Date, the Notice of Physical Settlement must be delivered on or prior to Thursday 3 February 2011 (assuming Physical Settlement is the Fallback Settlement Method) in accordance with Section 3.2(c)(ii)(B)(II)(1) of the 2003 ISDA Credit Derivatives Definitions as supplemented. |
| Anglo Irish Bank Corporation Limited Auction Settlement Terms: | Anglo Irish Bank Corporation Limited Auction Settlement Terms |
| Deriv/SERV Anglo Irish triggered transactions data: | Anglo Irish triggered transactions data |
| Related Press Release:ISDA Determinations Committee Resolves One or More Auctions May be Held for Anglo Irish | |