The pace of growth in credit derivatives is slowing, new data from the Bank for International Settlements (BIS) shows today.
Turnover in credit default swaps (CDSs) increased by one-third to $14 trillion at the end of 2005. But that followed a 60% increase in growth over the previous six months. Growth in single-name CDSs outpaced multi-name contracts, with growth rates of 40% and 21% respectively.
Two-thirds of outstanding CDS positions at the end of 2005 were between dealers, and 25% were bet