Just out from the Die Bundesanstalt für Finanzdienstleistungsaufsicht, better known (for obvious reasons) as BaFin, the German financial regulator:
Die Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) hat –entgegen anders lautender Berichterstattung – bislang keine Anhaltspunkte dafür gefunden, dass in jüngster Zeit verstärkt Kreditderivate, sogenannte Credit Default Swaps (CDS), zur Spekulation gegen griechische Staatsanleihen genutzt worden sind.
Which meant:
BaFin has, contrary to reports, not found that derivatives, otherwise known as “Credit Default Swaps,” were used to speculate against Greek government bonds.
(With thanks to Spencer Jakab for the translation and Jeremy Grant for the tip)
Now – will Greece apologise for that fit of pique that saw it ban hedge funds from its most recent bond offering? If past form is anything to go by, we think not.
Related links:
On January 28, a cloudy, drizzly day in Athens… – FT Alphaville
The not entirely unexpected Germano- Greek inquisition – FT Alphaville
Regulators launch probe into euro trades – FT
Banks defend use of sovereign CDS trade – FT