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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Defrocked who wrote (6298)9/9/1998 4:02:00 PM
From: Zeev Hed  Read Replies (2) | Respond to 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



To: Defrocked who wrote (6298)9/9/1998 4:20:00 PM
From: Worswick  Respond to of 9980
 
Thanks so much for the precise and illuminating reply about notional swaps. Yes, it is interesting that all these banks are giving figures that relate to six months ago...an eternity in the present circumstances.

Again, thanks so much!



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