Basics of Credit Derivatives

An easy-to-read primer on meaning, types and basics of credit derivatives Credit Derivatives- a primer
A detailed reference with discussion on issues Credit Derivatives Terminology
A detailed reference with discussion on issues Credit Derivatives: Detailed referencer

Credit Derivatives: Market Info and awareness 

Credit derivatives markets in different countries Market data and developments
Regularly updated news on credit derivatives News and developments
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A rich collection of articles on credit derivatives Vinod Kothari's book on Credit Derivatives and CDOs
A rich collection of articles on credit derivatives Articles on Credit Derivatives
An easy-to-read primer on meaning, types and basics of credit derivatives Workshop on Credit derivatives
Regulatory statements on credit derivatives in different countries Regulations on credit derivatives
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Credit derivatives and the financial system:
Macro-economic Risks of credit derivatives

Learn more on Credit Derivatives and Synthetic CDOs

Do consider buying Vinod Kothari's book on Credit Derivatives and Synthetic Securitisation, July 2002 edition - see here for details

Several studies and articles have gone into the risks of credit derivatives - risks to the stability of the financial system, transparency, banking regulation, etc.

Here we present some significant studies:

  • The BIS recently (June 2007) held an annual conference on financial risk, and the focus was obviously credit derivatives. Darrel Duffie presented a paper on risk transfer by credit derivatives. The complete report is here
  • The FRB Atlanta recently (May 2007) held a complete event on credit derivatives - the participants included Ben Bernanke and lots of others. The complete report with presentations is here
  • The CDO market: Functioning and implications in terms of financial stability, article in Banque de France Financial Stability Review - click here
  • Credit derivatives and financial stability - special report from Deutsche Bank Research - click here
  • A Financial Policy Forum article on the fallout of GM and Ford downgrade on the credit derivatives market and hedge fund meltdown - click here. See also related stories on our page here.
  • BIS Quarterly Review, June 2005 covers the Ford and GM downgrade and the impact on the credit derivatives market - here is the text
  • Article on the 23rd May 2005 issue of BusinessWeek online - click here
  • For links on hedge funds, see our other site here.
  • OECD document on credit risk transfer through credit derivatives and risk issues: July 2002 - click here.
  • FSA UK letter on operational and risk managment issues in credit derivatives, Feb 2005: click here
  • Deloitte Article explaining implications of the FSA letter - click here
  • Greenspan's speeach on risks in credit derivatives, 5th May 2005: click here
  • Global Financial Stability report contains a special chapter on credit derivatives, April 2005: click here
  • Report of the Joint Forum on Credit risk transfers, october 2004: click here
  • ISDA's comments on the Joint Forum paper - click here
  • David Rule (Bank of England) article on credit risk transfers (June 2001): click here
  • BIS document on credit risk transfers - very readable and comprehensive: click here