第一部分是对信用风险、信用风险管理及传统信用风险管理方式缺陷的分析，为信用衍生工具的引入做了必要的铺垫。
Firstly, part one analyzes credit risk, credit risk management and the limitation of the traditional credit risk management mode, and lays a way for introducing of credit derivatives.
信用衍生产品是新兴的最具发展潜力的信用风险管理工具之一。
Credit derivatives is one of the emerging risk management instruments with great potential.
又比如资产支持证券的出现，就像其它金融衍生工具一样，迫使市场参与者更加重视信用风险。
For example the emergence of asset-backed securities, like other financial derivatives, forcing market participants to pay more attention to credit risk.
运用动态博弈理论、市场有效性理论、展望理论对衍生金融工具的信用风险、市场风险、操作风险的产生机理进行了经济学分析。
An economical analysis which USES Game theory, EMH and Prospect theory of the production mechanism about credit risks, market risk, and operation risk of the derivatives has been given.
全文从信用风险的涵义和特征入手，通过分析传统信用风险管理方法引出信用衍生工具。
The paper begins with the connotation and characteristics of credit risk. Through analyzing the traditional credit risk management methods the article introduces credit derivatives.
外汇衍生工具作为规避汇率风险进行投机保值的工具，具有高风险性，其基本风险有市场风险、信用风险、流动性风险、营运风险和法律风险。
As a valuable tool of avoiding exchange-rate risk and guaranteeing price congenially, the FX Derivatives have market risk, credibility risk, liquidity risk, management risk and legal risk.
信用衍生产品是重要的信用风险转移工具。
Credit derivatives is an important instrument transferring credit risks.
信用衍生产品是重要的信用风险转移工具。
Credit derivatives is an important instrument transferring credit risks.
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