Gulati is Professor of Law at Duke University and was instrumental in highlighting the feasibility of a reduction of Greek debt through swaps, by suggesting that collective action clauses allowed enough negotiation room for debtors to come to a deal with their creditors.
What does CAC stand for?
CAC stands for Collective Action Clause
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of CAC
We have 909 other meanings of CAC in our Acronym Attic
- Coal Association of Canada
- Coalition for America's Children
- Coast Artillery Corps (US DoD)
- Coastal Assistant Controller
- Codex Alimentarius Commission
- Coheed & Cambria (band)
- Colegio Argentino de Cardiología (Portuguese: Argentinean College of Cardiology)
- Collection Accounting Classification
- Collection Advisory Center
Samples in periodicals archive:
Tran warned that any attempt to coerce investors into taking such a discount, by using collective action clauses that force a minority of dissenters to accept, would exacerbate the problem.
The ministers have also approved the country's debt swap with private creditors, including the use of collective action clauses.
The downgrading followed the Greek parliament's adoption last week of a bill on waivers of government bonds by private-sector investors, which includes collective action clauses binding all bondholders into debt waiver in the event a predefined quorum of creditors has agreed to do so, the U.
We lowered our sovereign credit ratings on Greece to 'SD' following the Greek government's retroactive insertion of collective action clauses (CACs) in the documentation of certain series of its sovereign debt," rating agency says Standard & Poor's has lowered its 'CC' long-term and 'C' short-term sovereign credit ratings on Greece to 'SD' (selective default).
Sachinidis sidestepped a question on whether Greece would insert or activate a collective action clause that would force all creditors to sign up to the bond swap if a clear majority had voluntarily done so.
The range of topics in this well-researched and well-written book include optimizing value-at-risk and daily capital charges, managing value at risk under the Basel II Accord, sovereign insolvency procedures, collective action clauses in international sovereign bond contracts, a review of empirical studies on collateral and credit rationing, and capital requirements, business cycle fluctuations, and the Basel Accords.