A swap agreement that relates a vanilla currency swap to a credit event. Once that credit event occurs, the swap terminates and no payment is made by either party to the other.
It is also known as a credit contingent currency swap.
A swap agreement that relates a vanilla currency swap to a credit event. Once that credit event occurs, the swap terminates and no payment is made by either party to the other.
It is also known as a credit contingent currency swap.
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