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Credit default swap
Meaning
Noun
●
In Finance:
A
credit
derivative
contract
between two
counterparties
, whereby the
buyer
(seller of risk) makes
periodic
payments
to the
seller
(buyer of risk)
in exchange for
the right to a
payoff
if there is a
default
or other
credit event
in respect of
a
third party
called
reference
entity.
Sourced from
Wiktionary
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