In the context of credit default swaps (CDS) and similar credit derivatives, settlement takes place once a credit event (bankruptcy,...

A derivative contract that is not typically backed by an underlying financial asset, physical commodity, index performance, index volatility, etc....

The danger (risk) that some unexpected event will take place and increase the credit risk of an issuer, hence badly...

An event, favorable or unfavorable, that takes place after the reporting period, specifically between the end of the period and...

An event, favorable or unfavorable, that takes place after the reporting period, specifically between the end of the period and...

The risk that arises from the negative effect of wars, epidemics (AIDS, plague, etc.), pandemics (Spanish flu, COVID-19), catastrophes (earthquakes,...

A bond provision that requires that the bond is turned in, or redeemed, at par or at a premium in...

An event of significant magnitude that takes place or is observed at the end-or tail- of a bell curve- i.e.,...

It stands for lifetime expected credit losses; the expected credit losses (ECL) that would result from all possible default events...

The expected credit losses that would result from all possible default events to occur over the entire expected life of...