The first auction to settle credit default swaps linked to an Asian company is set to go ahead after creditors to Aiful, Japan's third-largest consumer finance group, agreed to restructure its debts.
The move will be a significant test for the CDS market, which has come under pressure from policymakers to increase standardisation and transparency in the wake of the global financial crisis.
CDS contracts provide a form of insurance against default by a borrower and have been blamed by some regulators for exacerbating the crisis.
您已阅读30%（531字），剩余70%（1218字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。