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| ==Levels and flows== | ==Levels and flows== | ||
| The ] reported the |
The ] reported the notional amount on outstanding credit forwards and swaps to be $3.846 trillion in end-June 2004, up from $536 billion at the end of June 2001. | ||
| The ] reported the notional amount on outstanding credit derivatives from 667 reporting banks to be $1.909 trillion. | The ] reported the notional amount on outstanding credit derivatives from 667 reporting banks to be $1.909 trillion. | ||
Revision as of 09:34, 10 February 2005
The Credit default swap (CDS) is the most widely used credit derivative. It is an agreement between a protection buyer and a protection seller whereby the buyer pays a periodic fee in return for a contingent payment by the seller upon a credit event (such as a certain default (finance)) happening in the reference entity.
Levels and flows
The Bank for International Settlements reported the notional amount on outstanding credit forwards and swaps to be $3.846 trillion in end-June 2004, up from $536 billion at the end of June 2001.
The Office of the Comptroller of the Currency reported the notional amount on outstanding credit derivatives from 667 reporting banks to be $1.909 trillion.