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The Industrialization of Credit Risk

In: Financial Boom and Gloom

Author

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  • Dimitris N. Chorafas

    (New York Academy of Sciences)

Abstract

Credit derivatives are financial instruments enabling the trading of credit risk separate from other types of risk. This is achieved by appropriately designing, securitizing (section 2 of this chapter) and distributing credit exposure to willing investors. A simple form of a bilateral credit derivatives deal is that two parties agree to exchange predetermined cash flows associated with a given credit event, over a defined maturity.

Suggested Citation

  • Dimitris N. Chorafas, 2009. "The Industrialization of Credit Risk," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Financial Boom and Gloom, chapter 5, pages 112-137, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-23583-0_5
    DOI: 10.1057/9780230235830_5
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