信用违约互换(credit - default swap，简称CDS，又译为信用违约掉期)可看成是一种保险，投资者购买CDS以弥补一旦某特定债务人发生债务违约而可能给自己造成的损失。
A credit-default swap may be described as an insurance that investors buy to compensate for a loss if a particular debtor defaults on its obligation.
信用评级机构称，这是近十年来发生违约最少的时期。
Rating agencies say that the number of defaults is the lowest for almost a decade.
这是一个关系视图，其中包含信用违约互换衍生产品(即在发生违约时由某个知名的金融实体承担损失)的相关信息。
This is a relational view that contains information about credit default swap derivatives that involve a failure to pay by some known entity.
对于公司的信用违约掉期而言，在申明该公司发生了违约事件并赔付补偿金之前，对其债务偿付都有一段宽限期。
A corporation generally has a grace period on its debt payments before a credit event is declared and protection is paid off.
希腊若发生债务违约，不是简单地让信用违约掉期市场中的投机者得益就好了。
A Greek default would not simply reward "speculators" in the CDS market.
在过去几年中，该市场最快的增长发生在信用违约互换(CDS)领域，利用此类和约，人们可以对这些新奇信贷产品的违约进行投保。
In the past couple of years the fastest-growing corner of these markets was credit-default swaps, which allowed people to insure against the failure of the new-fangled credit products.
但是，如同跟单信用证的开证人一样，担保人仅仅处理单据，而不考察事实上是否发生了违约。
However, the guarantor, like the issuer of a documentary credit, is concerned not with the fact of default, but only with documents.
信用违约掉期的作用跟保险类似，是在万一发生债券违约的情况下对债券持有人的一种保护。
That makes buying and selling much more difficult. Credit-default swaps act like insurance, protecting bondholders in the event of a default.
这事实上是一个典型的定量研究模型，模型回答了违约以多大的概率发生，因此可以用于信用风险管理。
The model answer how much the probability when the default occur, so it can be used in credit risk management.
也许有人可以做出解释。英国巴克莱银行的市场战略专家TimBond称，信用违约互换的价格滑落，正预示着有事情发生。
Perhaps, argues Tim Bond, a market strategist at Barclays Capital, the falling cost of CDSs is a harbinger of things to come.
也许有人可以做出解释。英国巴克莱银行的市场战略专家TimBond称，信用违约互换的价格滑落，正预示着有事情发生。
Perhaps, argues Tim Bond, a market strategist at Barclays Capital, the falling cost of CDSs is a harbinger of things to come.
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