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ISDA International Swaps and Derivatives Association, Inc.
600 Fifth Avenue Rockefeller Center - 27th floor New York, NY 10020 U.S.A. Phone: (212) 332-1200 Fax: (212) 332-1212 Website: www.isda.org M E M O R A N D U M TO: ISDA Credit Derivatives Market Practice Committee FROM: Louise Marshall (lmarshall@isda.org); Katia D'Hulster (kdhulster@isda-eur.org) DATE: December 4, 2001 RE: Credit Derivatives Documentation; Review of 1999 Definitions Three Supplements and Commentaries have been published on ISDA's website relating to amendments to the 1999 ISDA Credit Derivatives Definitions (the "Definitions"). These three Supplements to the Definitions are: (i) the Restructuring Supplement published on May 11, 2001; (ii) the Supplement Relating to Convertible, Exchangeable or Accreting Obligations, published on November 9, 2001; and (iii) the Supplement on Successor and Credit Events, published on November 28, 2001. As indicated at the Credit Derivatives Market Practice Committee meeting on November 5 in London and New York, ISDA will publish a Supplement that rolls all three Supplements into one, for ease of reference. We will also do the same for the Commentaries. ISDA has received member feedback that it would be useful to update the Definitions in 2002. Accordingly, taking into account that the three Supplements have already been published, we would like to receive any additional comments that you might have on other areas of the Definitions. Please direct your comments to Kimberly Summe at ksumme@isda.org by Friday, January 18. Once comments are received and reviewed, we will hold another Credit Derivatives Market Practice Committee meeting, probably in February 2002. Details will be sent out in January 2002. Also, as a reminder, final comments are due on the User's Guide (also to ksumme@isda.org) by Monday, January 7, 2002. Thank you in advance for your consideration.
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