Protected from the credit glare?

Systemic risk


The lack of supply of underlying credits and diminishing credit spreads has led to increasing leverage being used to boost returns, resulting in products such as collateralised debt obligations (CDOs) of CDOs being marketed to investors. Is this consistent with the credit risk transfer that is the basic premise of credit derivatives?

Brian Ranson, managing director, credit strategies group, Moody's KMV: One could argue that the growth of the credit default swap (CDS) market and the increase in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here