From Free Lunch to Black Hole: 4 Interesting Cases of Credit Default Swaps at AIG

From Free Lunch to Black Hole: 4 Interesting Cases of Credit Default Swaps at AIG

credit default swap is (CDS) a financial instrument that transfers the credit risk from one party to another. A bank may be one example since it offers credit to its clients and then assumes the risk of its customers defaulting on the credit. The bank could approach another company, such as an insurer, and transfer the risk of defaults by the client

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