信用衍生工具的中文解释

为违约风险提供保险的衍生工具，目的是将信贷风险与整体市场风险分离。例如，债券持有人可以买入一份信用衍生工具，为发债人违约不偿还本息的风险投保。 信用衍生工具可以保障的范围包括：债券收益率与公债间的利差突然增加、价格贴水加深、破产、无力偿还或违约(default)。

Credit Derivatives的英文解释

Derivative instruments created to separate the credit risk of a borrower from overall market risk. A purchaser of a bond buys a credit derivative to cover the risk of the bond's debtor defaulting. Effectively the seller or writer of the credit derivative is providing an insurance policy against default. Credit derivatives can provide cover against a sudden widening of the bond's yield spread over Treasuries, a deepening of its price discount, bankruptcy, insolvency or default.

• writer [´raitə]   n.作者；作家   (初中英语单词)
• seller [´selə]   n.销售者；行销货   (高中英语单词)
• debtor [´detə]   n.债务人；借方   (英语四级单词)
• policy [´pɔlisi]   n.政策；权谋；保险单   (英语四级单词)
• discount [´diskaunt]   n.&vt.(打)折扣   (英语四级单词)
• bankruptcy [´bæŋkrʌptsi]   n.破产   (英语四级单词)
• purchaser [´pə:tʃəsə]   n.买主；采购人   (英语六级单词)
• effectively [i´fektivli]   ad.有效地   (英语六级单词)