Now seems as good a time as any for ISDA to show how much progress has been made in the past nine months.
One major dealer down and a zillion little initiatives to help quantify and manage the outstanding risks means it's ... update time.
We have some justification to expect a revised estimate, please.
FWIW, I think the ISDA estimate is ... a far better one than simply applying a default rate to a notional. If they have good data, then one could go so far as to say that their estimate is also ... trustworthy.
Monday, October 13, 2008
Paging ISDA, New Estimate Please
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