INSUBCONTINENT EXCLUSIVE:
top banks has declined.
One-year Credit Default Swap (CDS) contracts on the overseas bonds of State Bank of India and ICICI Bank fell
113-137 basis points in the past nine trading sessions, show data from Bloomberg.
This suggests overseas investors expect banks to only get
financial institutions at India Ratings
The banking industry expects that these assets are close to resolution under the bankruptcy law
The market for CDS is almost non-existent locally, but global investors trade on it
The platform is available only for two Indian banks: SBI and ICICI Bank
insurance against the investment
On November 21, that cost was 19.50 cents
HDFC Bank are the three systematically important Indian lenders
16, the Supreme Court cleared the air over the Essar Steel case, which involved about $6 billion lender payout from the successful bidder,
The case lingered over two years, surpassing the stipulated timeline for resolution under the Insolvency and Bankruptcy Code.
Banks are
expected to recover 90% of their exposure to the Essar Steel account, with State Bank of India getting nearly ?12,000 crore out of its
said Joydeep Sen, a consultant with Phillip Capital India
under its purview has also likely helped improve the CDS rates
