Credit default swaps and their market function

Credit default swaps and their market function

Credit derivative instruments allow default risk to be segregated from debt of all kinds. They have granted investors the ability to hedge their portfolios and provided numerous institutions with a new source of income. However, the market for credit default swaps is neither transparent nor regulate...

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Veröffentlicht in:Economic commentary (Cleveland) 2009-07, p.1
Hauptverfasser: Cherny, Kent, Craig, Ben R
Format: Artikel
Sprache:eng
Schlagworte:
Bankruptcy
Credit default swaps
Credit risk
Default
Derivatives
Financial markets
Hedging
International finance
Investors
Over the counter trading
Risk management
Speculation
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Zusammenfassung:Credit derivative instruments allow default risk to be segregated from debt of all kinds. They have granted investors the ability to hedge their portfolios and provided numerous institutions with a new source of income. However, the market for credit default swaps is neither transparent nor regulated, perhaps undermining the stability of the financial system it has helped innovate.
ISSN:0428-1276
2163-3738