Planning for auction to settle Russian CDS to resume Monday

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NEW YORK -A derivatives committee said it will meet again on Monday to resume preparations for an auction to settle credit default swaps linked to Russia’s foreign sovereign debt, according to a statement on its website.

The committee said it will meet again on Aug. 1 at 1300 GMT.

The committee meetings come after the U.S. Treasury’s Office of Foreign Assets Control issued last week a special waiver to allow the CDS settlement to continue, after having previously said that transactions involving Russian debt, necessary for the CDS auction, were banned.

(Reporting by Rodrigo Campos; Editing by Lisa Shumaker)