Structured Credit Products: basket credit default swaps

In an article adapted from his new book, Wiley finance author Moorad Choudhry describes basket default swaps, a variation of the standard credit default swap.

Moorad Choudhry

July 23, 2004

Credit derivatives are financial instruments that enable credit risk on a specified entity or asset to be transferred from one party to another. Hence they are used to take on or lay off credit risk, with one party being the buyer of credit protection and the other party being the seller of credit protection.

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