Isda AGM: Rate of decrease in CDS notional falls
The rate of decrease in notional volumes of credit default swaps (CDSs) has slowed, according to the International Swaps and Derivatives Association’s year-end 2009 market survey, which was unveiled at its annual general meeting in San Francisco on April 22.
The fall in notional - encompassing CDSs on single names, baskets and portfolios of credits and indexes - was the lowest since the financial crisis took hold during the second half of 2008. Notional volumes dropped by just 3% to $30.4 trillion in the six-month period to December 31, 2009. That is significantly less than the 29% drop seen in the last six months of 2008, as well as the 19% reduction reported in the first half of 2009.
The $30.4 trillion CDS notional reported in the latest survey
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