2014•ACTUAL PROBLEMS OF INTERNATIONAL RELATIONSOpen access

THE ROLE OF CREDIT DEFAULT SWAPS (CDS) IN THE GLOBAL FINANCIAL CRISIS

Anastasiya Zelenetska

Abstract

This article considers the essence of credit default swaps (CDS), as a new tool for hedging risks, market development of CDS contracts during 2001-2010, and the role of CDS in the global financial crisis. Keywords: Credit default swaps (CDS), buyer of CDS, seller of CDS, spread, credit event, default, insurance contract, and mortgage-backed security.

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Available abstract

Key concepts: Credit default swap, iTraxx, Credit default swap index, Business, Credit derivative, Financial crisis, Financial system, Synthetic CDO