Series: IMF Working Papers
Author(s): Manmohan Singh , and Jochen Andritzky
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 November 2006
Keywords: Credit default swaps, recovery value, default risk, bond, bonds, arbitrage, bond market, bond spreads, International Lending and Debt Problems,
Credit default swaps (CDS) provide the buyer with insurance against certain types of credit events by entitling him to exchange any of the bonds permitted as deliverable against their par value. Unlike bonds, whose...