This article focuses on analyzing the main factor which affect the credit default swap pricing and prices the credit default swap spreads reasonably .

本文的重点是分析影响信用违约 互换价格的主要因素，根据现实需要对 信用违约互换利差进行合理定价。

The most popular credit derivatives are credit default swap and credit spread options .

最普遍的信用衍生品有两种：信用违约 互换 和 信用敞 口期权。

Fourthly to formulate specific legislation of credit enhancement to improve the security and insurance law regulations for secondary market and standardize the application of Credit Default Swap and therefore to achieve the purpose of regulating Mortgage-backed Securitization ' credit enhancement .

四是制定信用增级的专门立法，完善二级市场的担保与保险法规和规范信用违约 互换的适用，达到规制住房抵押贷款证券化 信用增级行为。

If you open a fixed account . swap ( mutual credit facilities )

对开帐户（ 互惠 信贷）

First this thesis analyses the value of a credit default swap in terms of its cash flow adopts the analysis frame of Duffie-Singleton and use the recovery structure of recovery of face value to derive the basic pricing model for the credit default swap .

首先，本文从信用违约 互换的现金流出发，对信用违约 互换的价值进行分析，并以Duffie-Singleton的分析框架为基础，根据面值清偿率的偿付结构得到 信用违约互换定价的基本模型。

Credit default swap is one kind of credit derivatives which has the largest scale the most mature development and the highest level of standardization in the present international market .

信用违约 互换是目前国际市场上规模最大、发展最成熟、标准化程度最高的 信用衍生产品。

This paper introduces credit derivatives including put option default option swap and credit-linked notes ( CLN ) and their applications in credit risk management .

看跌期权、违约期权、 互换和信用联系票据等几种信用衍生产品在 信用风险管理中的应用有着重要的现实意义。

Therefore the credit default swap is an effective tool reducing risk concentration without affecting the relationships with customers and it has fundamentally changed the traditional credit risk management .

因此，信用违约 互换是在不影响与客户关系的前提下有效降低风险集中度的工具，从根本上改变了传统的 信用风险管理模式。

The basic idea behind the credit default swap is to transfer credit risks while retaining their original claims from assets such as loans and bonds to the investors who are willing to sign agreements to take over these risks .

它的基本思想是通过协议的方式在保留原有债权的前提下， 将贷款或债券等资产的 信用风险转让给 愿意承担风险的市场投资者。

So credit default swap can reduce the concentration degree of credit risk in the prerequisite of not influencing the relationship with customers therefore avoid the credit risks effectively .

因此， 信用违约 互换可以在不影响与客户的关系的前提下降低风险的集中度，从而有效回避信用风险。

Swap ( mutual credit facilities ) Examining of all the books and accounts of a company

对 开 帐户（互惠 信贷）对公司的所有帐册和帐户进行检查

Credit default swap is a kind of off-balance sheet derivative financial instruments for financial institutions which are used to manage credit risk . Credit default swaps have become the largest trading volume products of credit derivatives .

信用违约 互换是金融机构进行 信用风险管理的表外工具，是信用衍生品种交易量最大的产品。

As for the commercial banks credit derivatives are the appropriate new products to meet this need which are new tools for managing credit risk mainly including credit default swap total returns swap credit linked notes and credit default option etc.

对商业银行来说，信用衍生产品正是为了满足商业银行的这种需要应运而生的，是一种新的管理信用风险的工具。目前，我国商业银行面临的最大的风险 莫 过于 信用风险。

Applying Cox process to describe the process of noncompliance the valuation issue of credit default swap is studied under the hypothesis that the market risk is correlated with credit linearly .

摘要用考克斯过程来描述违约过程，在假设市场风险和 信用风险线性相关的前提下，研究了信用违约 互换价差的估值问题。

According to the study of British Bankers Association in 2002 which shows that credit default swap accounted for more than half share in credit derivatives market .

根据2002年英国银行家协会的 信用衍生产品研究报告显示，信用违约 互换已占市场上 信用衍生产品份额的一半以上。

Swap ( mutual credit facilities ) Kindly make a note of this order .

对 开 帐户（互惠 信贷）对此次订购，请予以入帐。

The credit default swap is the basic credit derivatives .

其中，信用违约 互换是最基本的 信用衍生产品。

Credit default swap is one of the most widely used financial products among credit derivatives which generally serve as a class of credit risk management tools .

信用衍生品是一类主要用于管理信用风险的工具，信用违约 互换又是其中应用最为广泛和普遍的一种金融产品。

Measuring VaR of Swap Value by Credit Metrics Model

基于 信用度量制模型的 互换价值VaR的计量

Credit default swap is a new financial instrument for controlling credit risk .

信用违约 互换是最近几 年国际金融市场出现的重要的 信用风险管理创新工具，由于信用风险非系统性、收益可 偏性以及数据 获取 困难， 使得信用违约 互换 定价的十分 困难。

In this case the bank could trigger the credit default swap by restructuring its bilateral credit facility .

在这种情况下，银行可能引发的信用违约 互换的结构调整双边 信贷额度。

Swap spreads the difference between government bond yields and money market rates and a measure of bank credit quality remain some way from looking normal .

互换息差（即国债收益率与货币市场利率之差，是一个衡量银行 信贷质量的指标）仍未恢复到正常水平。

The credit default swap pricing model is the core of the credit default swap research and particularly the pricing model based on a reduced form model is the mainstream in current studies .

构建有效的信用违约 互换定价模型是 信用违约互换研究的核心，而基于强度模型的信用违约互换定价模型研究是目前研究方向的主流。

China has offered several of its trading partners Renminbi currency swap lines in the hope that should dollar credit markets freeze again trade might keep flowing in a parallel Renminbi universe .

中国已经与多个贸易伙伴签署了人民币 互换 协议，寄望于在美元 信贷市场再次冻结的情况下，可以通过平行的人民币 信贷市场继续从事贸易活动。

The swap which would include credit sweeteners to encourage participation could reduce the present value of Greek debt by another € 90bn .

方案中的债券 交换将包含 信贷方面的一些优惠以鼓励各方参与。此举可能会把希腊债务的现值再削减900亿欧元。

With financial derivatives out-of-counter transaction financial swap bears superior credit risk and it leads to a debate on the current subprime mortgage crisis in USA. .

作为场外衍生金融交易的 互换 交易具有较大的 信用风险，信用违约互换在此次美国次贷危机中颇具争议。

Nor is this all : on Monday short-term yields on Treasury bills were below 1 per cent ; credit default swap spreads on financial institutions reached exceptional levels and credit spreads on riskier bonds were widening rapidly .

但问题不仅于此：周一短期国债收益率低于1%；金融机构的信用违约 互换（ cds）息差上升到异常水平；高风险债券的 信贷息差迅速扩大。

Equity default swap ( EDS ) is one of the credit derivatives which was first introduced in America in2004 .

权益违约 交换即是其中一种 信用型衍生性商品，首次于2004年在美国推出。

Legal analyses on the swap of credit to equity

债 转股的若干法律分析