You know what it looks like… but what is it called?
TAKE THE QUIZ“credit default”
We have one entry that includes the term credit default.
credit default swap
noun: a credit insurance contract in which an insurer promises to compensate an insured (as a bank) for losses incurred when a debtor (as a corporation) defaults on a debt and which can be purchased or sold by either party on the financial market
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Merriam-Webster unabridged