ISDA sees credit default swaps rise 37% in second half of 2007, 81% for year

By Laura Lutz

Des Moines, April 15 - The International Swaps and Derivatives Association, Inc. said that the notional amount outstanding of credit default swaps grew 37% percent in the second half of 2007 to end the year at $62.2 trillion, up from $45.5 trillion at mid-year.

Credit default swaps notional growth for the entire year was 81%, from $34.5 trillion at the end of 2006.

The notional amount of derivatives across all asset classes was $454.5 trillion at the end of 2007, the ISDA said.

The numbers were among the results of the ISDA's Year-End 2007 Market Survey of privately negotiated derivatives, which were announced in conjunction with the association's annual general meeting in Vienna on Wednesday.

"As ISDA's Year-End 2007 Market Survey highlights, the privately negotiated derivatives business continues to grow. While the amounts at risk are just a fraction of notional amounts, these give us a good sense of market activity," ISDA executive director and chief executive officer Robert Pickel said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.