Isda applauds $25 trillion reductions in CDS notionals

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NEW YORK – The International Swaps and Derivatives Association has applauded a number of industry initiatives that have had the beneficial effect of reducing notional amounts outstanding in credit default swaps (CDSs), significantly reducing operational, legal and capital costs for industry participants and improving operational efficiency in CDSs.

In 2008, efforts to reduce notional outstanding amounts have been rewarded by a decrease of more than $25 trillion in CDS notionals. This reflects a

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