credit default swap Meaning in the Cambridge English Dictionary
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Meaning of “credit default swap” in the English Dictionary

"credit default swap" in Business English

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credit default swapnoun [C]

uk   us   (also credit swap)
FINANCE a ​type of creditderivative in which the ​buyerpays the ​seller for the ​right to get ​money back if a particular ​loan, ​bond, etc. is not ​paid back: The cornerstone of the ​creditderivativesmarket is the ​creditdefaultswap, a ​sort of ​insurancepolicy that ​allows two ​parties to ​exchange the ​creditrisk of an issuer.
(Definition of credit default swap from the Cambridge Business English Dictionary © Cambridge University Press)
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