credit default swap

Noun

 * 1)  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.

Translations

 * Czech: swap úvěrového selhání
 * Finnish: luottoriskinvaihtosopimus
 * Spanish: permuta de incumplimiento crediticio, swap de incumplimiento crediticio