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Strategies & Market Trends : Asia Forum
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To: Defrocked who wrote (6298)9/9/1998 4:02:00 PM
From: Zeev Hed  Read Replies (2) of 9980
 
Defrocked, the only problem with "netted" transaction is when the other party default, and Fuji (or other banks dealing with these swaps) is left holding the bag. Apparently, in Japan, on such a collapse the solvent party can be left holding the bag when the insolvent bank is liquidated. I think that something like that happened in Germany few years back, but I cannot remember the exact circumstance.

Zeev
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