CDSs: lubricant or landmine?

david-rowe

When default swaps (CDSs) were introduced in the early 1990s, they offered banks a valuable new tool for managing credit risk. In an era when banks tended to originate and hold credit risk, portfolios largely reflected the lender’s regional footprints, and industry and credit-assessment expertise developed to deal with the characteristics of locally active firms. While a modest market in whole loans did exist, and syndication of large loans was a well-established practice, banks still found it

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 [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net 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: