Senarath, Shanuka; Rajapakse, Pelma; Vries Robbé, Jan … - In: International Journal of Financial Studies : open … 10 (2022) 4, pp. 1-14
A credit default swap (CDS) is a derivative financial instrument that provides insurance against credit risk. CDSs on subprime Asset Backed Securities (ABSs) paved the way for securitizers to hedge the credit risk of the underlying subprime loans during the onset of the Global Financial Crisis...