swap

And in a bid to jump-start flagging Cyprus talks, Turkey is reportedly ready to discuss land swaps without preconditions.

Information was incomplete on which banks might have issued the swaps and could be vulnerable to losses, creating an extra element of risk.

Bafin, the German regulator, said on March 8 there was no evidence speculators using credit default swaps contributed to Greece's woes.

AIG created a false sense of security via credit default swaps that was as it turned out completely unjustified by reality.

The goal was to set up a clearinghouse as well as an electronic trading system that would display prices for credit default swaps.

Apart from a few heavily traded warrants contracts and some currency swaps, China has no financial derivatives products.

Default on its $441bn exposure to credit default swaps and other derivatives would have been a global financial catastrophe.

It is hard to see why a retail bank needs to trade any derivatives on its own account other than interest rate swaps.

Another irony is by playing loose with the "voluntary" nature of haircut, they may have undermined the credit default swaps market.

But I cannot understand why we are still allowing the trade in credit default swaps without ownership of the underlying securities.

The Deutsche Bank AG trader's early embrace and mastery of credit-default swaps helped catapult him to managing director at the age of 27.

Banks would be able to retain operations for interest-rate swaps, foreign-exchange swaps and gold and silver swaps, among others.

The size and whereabouts of the "agreed swaps" of Israeli land to be taken by Palestine would be determined in the upcoming negotiations.

He also said he would accept land swaps with Israel along the 1967 border.

Of these, Morgan Stanley has the least cause for worry, since its swaps already sit in a non-bank subsidiary (see chart).

The second step is to understand credit default swaps and to recognise that the CDS market offers a convenient way of shorting bonds.

Credit default swaps are derivatives that investors use to protect against, or bet on, an entity being unable to repay its debts.

On Tuesday, after the news of a possible bailout, the cost of insuring Greek debt, as measured by credit-default swaps, plunged.

Credit default swaps are being netted and torn up; banks are trying to unwind swaps and other derivatives.

And the amount of credit swaps is so big that no one wants to test whether those counter parties can all pay in the event of a default.

Credit default swaps are the rocket fuel that turned the subprime mortgage fire into a conflagration.

In an attempt to find a scapegoat, the German government has banned all naked sovereign-credit-default swaps in Germany.

Prior to that , almost all the overseas transactions were in derivatives like NDFs and non deliverable cross- currency swaps .

A third is that swaps can be used to hide credit risk from markets, since positions do not have to be accounted for on balance-sheets.

And it was compounded by the wobbliness of a new type of financial insurance known as credit default swaps, which are now unregulated .

Aid must be increased, currency swaps need to be extended and the IMF must expand the scope of its short-term liquidity facility.

The major firms got to keep the biggest part of theirderivatives business in interest-rate and foreign-exchange swaps.

Some also worry that these weakened monolines would be less able to honour credit-default swaps (CDS)[3] they had sold to the banks.

Then, the : swaps you to Command mode and automatically sets the command's range to the range of lines you just selected in Visual mode.

Jill Sommers, a Republican commissioner who voted against the rule, said she was wary of affording special treatment to swaps customers.

Only a small amount of data relates to credit default swaps that reference our target company (Agrium Inc. ) as the named entity.

Collateralised debt obligations rate just two mentions in the index and credit default swaps get a paragraph and a half.

I never received any pay resulting from the credit default swaps that are now losing so much money.

If any country's banking system started to suffer losses on such a scale, debt-to-equity swaps might become inescapable.

Over time, the market has mushroomed to include futures, options and swaps contracts traded on a handful of exchanges round the world.

The difference between the front-month to second-front fuel oil swaps last week surged to $18 a tonne, the highest level ever.

Despite robust economic fundamentals, Seoul needed to be rescued from a dangerous liquidity shortfall by swaps from the US, Japan and China.

interest-rate swaps and features among the top three traders of most other sorts of financial instruments.

If companies fail en masse, what will happen to the derivatives that insure against default, known as credit-default swaps (CDS)?

The Koreans also have been pushing a plan to have the IMF work with big central banks and help arrange currency swaps in times of crisis.

Credit-default swaps were also used as a way of taking risks and are widely blamed for adding to financial-market instability.

Sherman is not well pleased about the crumbs, but imagine looking for a way to describe credit default swaps to a child.

It also provides for swaps in currencies other than dollars and euros, if such a need should arise.

In addition , the quantum must be large enough to allow reasonable amounts of computing to be done between swaps .

AIG had a vast business in credit default swaps and therefore a huge exposure to a residential mortgage crisis.

This ballooning of the notional value of derivatives and swaps was not accompanied by a comparable growth in actual economic activity.

Establishing a "clearing house" to net liabilities, including in credit default swaps, may also be necessary.

the Palestinians would have to be compensated, among other things, with swaps of land.

Your brain, being the clever little computer that it is, swaps this mad image out for something more sensible: a pool of water.

Mr Key said China's large mills had become more interested in swaps after encouraging comments from the China Iron and Steel Association.

ISDA will decide if the credit-default swaps should pay out depending on whether it judges losses to be voluntary or compulsory.

Before backing down on Friday, Mrs. Merkel had initially pressed for debt swaps instead.

"Insider trading is evidenced by the movement in share prices and credit default swaps prior to the public announcement of deals, " it says.

Likewise, the New York Times singled out the deregulation of credit default swaps as a cause of the crisis.

Goldman Sachs Group Inc. did as many as 12 swaps for Greece from 1998 to 2001, according to people familiar with the matter.

The swaps trade directly between institutions, not on exchanges, and many investors believe their prices can be easily manipulated.

That change was mirrored in higher prices for credit-default swaps, a form of insurance against default (see chart).

But if credit swaps were not a primary cause of the past year's conflagrations, they were, in certain respects, an accelerant.

The boundaries between the two are becoming blurred, as bourses offer centrally cleared markets in foreign exchange and swaps.

Since the market collapsed, far fewer credit-default swaps have been issued.

Once the entire banking system had loaded up on mortgage derivatives and credit default swaps, the crisis was just waiting to happen.

Had AIG been allowed to go bust, the swaps market might well have unravelled.

The financial engineer might use a combination of futures, options, and swaps, to tailor a solution to a specific risk management problem.

Credit default swaps must be regulated and sellers must be required to hold sufficient capital.

The relationship between the price of corporate bonds and credit default swaps continues to display unusual patterns.

Think of swaps, for instance, as a form of bankruptcy protection.

The settling of the credit default swaps on the two mortgage giants may also be messy.

The amount of counterparty risk in the system will be reduced greatly by central clearing-houses for credit-default swaps.

They are also looking into whether traders are using swaps, or derivatives that trade off exchanges, to stay off the radar.

LCH. Clearnet, in London, has been clearing interest-rate swaps at low prices since 1999.

She probably thinks that "speculators" are manipulating the prices of these swaps.

If the debt's holders suffer losses in a bail-out, triggering a "credit event" , banks that had sold the swaps would face huge payouts.

These swaps are used to speculate on the likelihood of a borrower repaying its debt.

Only now is the industry discovering the joys of "compression" , which allows offsetting swaps to be torn up.

Interest-rate swaps allow investors and borrowers to switch from a fixed rate to a floating, or variable, rate and vice versa.

After all, in 2005, when A. I. G. put many of these swaps on its books, the market value of the entire company was around $200 billion.

For interest rate swaps, Japan's FSA has said that, ideally, domestic CCPs should be used to reduce settlement risk swiftly and effectively.

From mortgage-backed securities to credit default swaps, the international monetary system is in big trouble.

They include banks and hedge funds that have acquired credit-default swaps(CDSS), the cornerstone of the market.

Some $62 trillion of that were credit-default swaps (CDSs), whose supercharged growth continues in spite of the crunch.

Money poured into CDSs (credit default swaps), a financial device that acts as an insurance policy against defaults.

To promote transparency, a comprehensive reporting and recordkeeping regime should be established for swaps.

Nonsense, says the International Swaps and Derivatives Association (ISDA), which represents the derivatives industry.

But given the prevalence of trading on the vast over-the-counter swaps markets, it is difficult to get a one-day fix on traders' positions.

On MouseOver it displays background tiles, swaps images, displays text, plays sounds and is clickable for linking.

Nor does the 50% number include any of the asset swaps done by the Federal Reserve when they bailed out Bear Stearns, AIG and others.

Don't trade in common shares. Instead, buy over-the-counter derivatives, swaps, options, or contracts for differences.

With China' s Bank of the current situation of credit default swaps are facing the current obstacles and put forward feasible suggestions.

The problem with credit default swaps, concludes Wallison, is not their financial effects but their political effects.

Credit-default swaps act like insurance, protecting bondholders in the event of a default.

The second part of this thesis analyzes the jurisprudence foundation and juristic relation of "swaps of debt to equity" .

The dealers have long argued that bespoke swaps do not belong on bourses.

But it will also be a test for the dauntingly large market for credit-default swaps (CDSs).

Swaps can also be arranged to manage the risk of a specific asset or liability exposure.

The investigation is not the first time the credit default swaps market has been targeted by US regulators.

A comprehensive framework of oversight for derivatives including hitherto unregulated credit default swaps.

Auctions to close out the swaps will be held in October by the International Swaps and Derivatives Association, a trade group.

To sum up, the world's major types of derivatives include futures, options, forward contracts and swaps.

More importantly, it is a giant in the over- the - counter derivatives market, and number one by a long way in credit - default swaps.

Some $440 billion in credit default swaps sat on the company's books before it collapsed.

Investors who buy sovereign credit default swaps against the spectre of French or Italian default are wasting their money.

That could count as a technical default and may result in a payout on credit default swaps.

A key factor that made the mortgage defaults so damaging was the growth of so-called credit-default swaps.

Mr. Cox's statement follows moves Monday by the New York Insurance Department to regulate some credit-default swaps.

Across the world, US dollar swaps have also been reintroduced to keep dollar liquidity flowing when US markets are shut.

Swaps between the two markets and channels should be vigorously.

Barclays stepped in for DFC, a bankrupt New Zealand mortgage bank in 1989, replacing it as a counterparty for all its interest-rate swaps.

So far, the Van Eck ETF has entered into swaps only with Credit Suisse Group, which is a qualified foreign investor.

Tenth, consolidate settlement of over-the-counter trading and credit default swaps.

The changes would impact on the multibillion-dollar Brent market of physical, forward, swaps, futures and options contracts.

The alternative is forced writedowns of bad assets in the financial sector and either more fiscal recapitalisation or debt-for-equity swaps.

Amid head-spinning talk of trillion-dollar debt and credit-default swaps, old-fashioned farming seems reassuringly tangible.

Unlike most other big players in the swaps market, hedge funds aren't subject to heavy oversight by regulators or capital requirements.

"If they did a hundred-million-dollar bond issue, two billion dollars of swaps would be created and traded, " Schlosstein said.

Instantaneously swaps positions with a target hero.

Approach other artists to do remix swaps: it's a win-win scenario as both acts obtain exposure to another fanbase.

The idea behind the swaps themselves is to provide central banks with yuan to inject into their own financial systems.

These swaps are insurance-like contracts that allow dealers, hedge funds and others to transfer the risk of corporate defaults to others.

Credit default swaps make up the majority of the rapidly expanding $26, 000bn credit derivatives market.

People are increasingly coming together for these sorts of informal swaps, says Boston University economist Juliet Schor.

Exhibit A: China sets up currency swaps with six nations so far this year.

CME's executives remain wary that new rules may drive some activity abroad or require the clearing of unsuitably exotic, illiquid swaps.

Many interest-rate swaps and credit-default swaps, now traded OTC, can be standardised.

I think, "swaps of debt to equity" may be achieved from six aspects: First, affirming the position of capital-controlling company.

Save for negotiated land swaps , Israel had to hand back the West Bank to the Palestinians and to share control of Jerusalem .

Futures, options and swaps all have the same characteristic: a small initial position can lead to a much larger exposure.

At the height of the boom, for every dollar banks issued in bonds, they might issue twenty dollars in swaps.

Somehow the world ended up with $62 trillion-worth of credit-default swaps (CDSs), none of them traded on exchanges.

Wall Street investment banks including JPMorgan arranged complex financing deals using swaps.

But overnight index swaps, which trade based on expectations for the policy rate, have been pricing in a cut.

Prices of credit-default swaps on sovereign debt have risen sharply, suggesting that investors see growing risks of default.

In the case of Greece's swaps, though, Goldman Sachs has done nothing wrong.

In another sign of market anxiety, risk premiums reflected in interest rate swaps also rose, with spreads widening sharply.

Swaps spin-off: Would require banks to spin off only their riskiest derivatives-trading operations into affiliates.

Segregation of customer funds is the core foundation of customer protection in the commodity futures and swaps markets.

Otherwise known as credit default swaps (CDS), it is a contract between two parties.

Narrowing spreads on U. S. interest rate swaps, an important gauge of financial system health, are another encouraging sign.

The Senate Agriculture Committee proposes blocking deposit-taking banks from making markets in swaps.

Risk appetite soared today as key central banks acted to provide liquidity by lowering interest rates on dollar swaps.

In January a subsidiary of NASDAQ, an American stock exchange, launched a central clearing house for interest-rate swaps.

Mr. Paulson scored huge profits by buying credit-default swaps, a derivative investment that serves as insurance on debt.

Renewed fears about Ireland's banks and Greece's economy have pushed their credit-default swaps closer toward record levels.

The virus is produced by a reassortment, in which human-adapted H1N1 swaps genes with an H2N2 bird flu.

Trading now includes foreign-exchange swaps and forwards as well as loans and deposits.

Breeze through airport-security hell with two simple swaps: slip-on (and off) loafers and tab-closure pants that don't require a belt.

A mixture of different types of Swaps. A Cocktail Swap will often be incorporated to spread the risk on major financing.

Regulators are writing rules dictating how swaps are traded and imposing requirements on those who use and trade them.

This suggests that banks and others have bought and sold roughly equal amounts of swaps to hedge their positions, traders say.

The Federal Reserve has engaged in currency swaps with the European Central Bank to support the dollar needs of EU banks.

Citi's credit default swaps have a market implied rating of "Baa2, " or seven notches below the bank's current "Aa1" rating.

According to Markit, the cost of one-year US credit default swaps, which insure against default, almost tripled in six trading days.

We feel more comfortable taking credit risk in high yield corporate bonds via index (credit default swaps) or index funds.

Thus were born "derivatives" , of which options, futures and swaps are the best known.

The financial products were made "safe" by insurance products known as credit default swaps, a credit derivative from companies such as AIG.

But there was serious concern that swaps violated the old bucket shop laws.

It has to do with road building. It has to do with land swaps, worthless land for valuable land.

A line will probably be drawn between trading swaps for profit and doing so for risk-management purposes or on behalf of clients.

Such recapitalisation is an alternative to forced debt-to-equity swaps.

He reads hackermagazines, swaps information with a small circle of hackers and writesmalicious code.

By using a simple calculation these swaps can calculate into another currency's deposits.

Collateral would be required only if A. I. G. 's credit rating were cut or if the debt underlying the swaps declined.

Swaps the body of a method.

But less than a decade ago, the credit-swaps market barely existed.

Another weak spot is the $62 trillion market for credit-default swaps, which has given regulators nightmares since the loss of Bear Stearns.

His work, encouraged by Clinton's administration, allowed the explosive growth of derivatives, including credit swaps.

Such swaps are like insurance policies; bondholders buy them to protect themselves from default on various forms of debt.

Take credit insurance. Banks that own corporate bonds may use the swaps market to hedge against a company defaulting.

Schlosstein picked out the growth of credit-default swaps, a type of derivative often used purely for speculative purposes.

The value of the swaps rise and fall as market reassesses the risk that a company won't be able to honor its obligations.

The dismay of investors was quickly apparent in the market for credit-default swaps (see chart) and in the equally active market for gossip.

The situation is aggravated by the market in credit default swaps, which is biased in favour of those who speculate on failure.

When housing prices continue to fall the credit default swaps derived from them simply can't be shored up by themselves.

Mr Hendry has purchased credit-default swaps on Japanese firms that are heavy exporters to China.

The value of outstanding credit-default swaps, for instance, has climbed to a staggering $45 trillion.

Ratings agencies are expected to declare Greece in selective default once the bond swaps occur.

The part of the kernel called the scheduler swaps jobs in and out so that they all get a turn.

The Monetary Authority has been using interest rate swaps to hedge the fixed rate liabilities arising from Exchange Fund paper.

To protect itself against value declines on these, Goldman wrote bets with AIG, using credit-default swaps.

debt-for-health swaps: Exchanges of developing country debt for assistance for health programs.

CME's attempts to clear credit-default swaps (CDSs), the most reviled OTC derivatives, have proceeded fitfully.

The market is already highly concentrated, with the trading desks of five large players executing 96 percent of swaps by commercial banks.

Instituting this rule would tame a destructive force and cut the price of the swaps.

It was a short step from currency swaps to interest-rate swaps.

But thanks to credit default swaps, you can place convenient bets on the break-up of the eurozone.

About 2% of the treated plants survived herbicide treatment, showing that gene swaps had occurred.

The gang swaps all the drinks for what they ordered as Phoebe enters. She sits down without saying hi.

b includes currency swaps and options , interest rate swaps and forward rate agreements only.

And Schor says that once these swaps do come together, they reinforce connections between people.

Its exposure to the murky credit-default swaps market alone is a notional $441 billion, enormous by anyone's standards.

But as details of the rules emerge, swaps peddlers and their clients are howling.

Contagion also spreads through the market for credit-default swaps.

Chinese interest-rate swaps have climbed since economic data released Sept. 11 showed strengthening domestic demand.

traders said most currency swaps will likely be between the dollar and the yuan.

One candidate for a leak is the credit default swaps market.

The utility swaps all instances of the old account, MyOldAcct, with a new account, MyNewAcct, and new password, newPass.

To be useful hedges, swaps need to have a degree of specialisation.

The prices of credit default swaps have signaled for months some downgrades of triple-A companies.

Common examples of derivatives include swaps, options, futures and FRAs.

The Federal Reserve swaps these green pieces of paper for pink pieces of paper called U. S. Treasury bonds.

Even fewer know or care about collateralised debt obligations or credit default swaps.

Swaps spreads rose sharply in UK gilts and US Treasuries, amid a flight to quality and fear of bank defaults.

The World Bank pioneered currency swaps, and uses swaps to protect against foreign exchange and interest rate risk.

The picture is further complicated by interest-rate swaps that many borrowers took out to protect them against rate rises.

He says he offered land swaps that would give a Palestinian state almost all of the territory to the east of the 1967 boundary.

Dividend swaps allow investors to separate the income from the capital return of equities.

Such defaults would spread losses in "credit default swaps" , which insure such debt.

The iron ore swaps allow participants to hedge exposure to the physical iron ore spot market.

Morgan Stanley is now offering swaps.

All of those SIVs and credit default swaps that once generated credit are now contracting and pulling the real economy down with them.

Some countries will continue to witness increased credit default swaps.

So the OS only loads or swaps the required amount of code and data for each particular process.

If the future financing costs rise, more swaps would be required to ensure solvency.

The CFTC, which regulates interest rate futures and swaps, reached civil settlements with more than 20 energy companies totalling $300m.

By then the mass appeal of commercial paper and credit-default swaps may have waned .

On a deeper level, too, credit default swaps played a critical role in Lehman's demise.

Then, there were no collateralised-debt obligations or credit-default swaps.

Further swaps are planned. Negotiations are also under way with zoos in Moscow and Quito.

Includes outright forwards and foreign exchange swaps.

The use of the swaps transactions is becoming increasingly prevalent, bankers say.

There was a mad dash to buy up protection against Italian debt using credit default swaps.

Banks also are increasing their use of credit-default swaps as protection against their holdings of sovereign debt from shaky countries.

Buyers and sellers of swaps will probably be required to disclose more information.

In most cases the swaps are traded over the counter, or are unlisted.

They will have earned mark-to-market gains as spreads on the agencies' swaps widened (ie, the risk of default grew).

South Korea cooled tensions then partly by agreeing $90bn-worth of currency swaps with the US, China and Japan.

These swaps provide dollars to other central banks, enabling them to lend the dollars to local banks.

It includes credit-default swaps, a form of insurance that pays off if a bond goes bad.

The Federal Reserve stepped in with currency swaps that helped relieve the won crunch.

It could also reopen the foreign-exchange swaps set up with the Fed during the crisis.

There are swaps in New York with hand-foraged mushroom chowder, and swaps in Texas showcasing processed cheese soup.

Credit default swaps started out as essentially an insurance policy.

Chinese authorities last allowed a new derivative to trade in the nation's interbank market when approving currency swaps in 2007.

The day before, Brazil spent $2. 75bn selling dollars in the currency swaps market to stop the rapid decline of the real.

Contortions to keep the debt deal "voluntary" (and so avoid triggering credit-default swaps) will do lasting damage to that market.

The most common forms include interest-rate swaps, currency swaps and credit swaps.

As a result, they bought insurance in the swaps market instead, driving Greek swap prices through the roof.

Others bought swaps without owning the bond to place a bet on a company's future.

Before the financial crisis, sovereign credit-default swaps traded in single digits.

Generous land swaps and cheap premiums for re-zoning land use rights are common in Macao.

An inability to execute swaps and forwards could make it harder for them to hedge currency risks.

Many of these deals involved currency swaps.

Credit default swaps on Dubai's sovereign debt have exploded to levels higher even than Iceland's, according to CMA Datavision.

Swaps the characters on either side of the insertion point.

Thus, the Commodity Futures Modernisation Act of 2000 exempted credit default swaps from these laws.

By late 2006 the cost of default swaps on subprime CDOs had jumped sharply.

Transparency and oversight must be improved in the newer, more exotic reaches of finance, such as credit-default swaps.

And the changes, some commissioners said, are not a cure-all even for swaps.

Forwards, swaps and options are also starting to trade but at low volumes.

They are also backing attempts to create iron ore swaps markets, and possibly someday an iron ore futures market [ID: nSP173780].

Prices of Argentina's credit-default swaps, a gauge of credit risk, rose to their highest-ever level.