The credit default swaps (CDS) market has changed “markedly” since the 2008 crisis, with some risks falling and others shifting, according to research published on June 5 by the Bank for International Settlements.
Iñaki Aldasoro and Torsten Ehlers draw on BIS derivatives statistics to examine how the CDS market changed in the years 2008–17. Overall, the trend has been a decline in outstanding notional amounts, though a rapid downward movement after the crisis has slowed in recent years. There
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