Measuring and managing market, credit and Op risk [45]

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Bullet points include: Big development in recent years has been increasing degree to which (pure) credit risk has become tradable Protection against loss on individual bonds or loans, due to obligor default Available via single-name Credit Default Swaps (CDS) Loans as well as bonds placed in pools and then sold in form of claims with differing levels of loss protection Collateralised Debt Obligations (CDOs) and also CLOs Or multi-name CDS equivalents Derivatives market in credit risk has exploded in size and complexity

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