It mainly refers to the market as a borrower or counterparty default losses caused by the possibility.

它主要是指由于借款人或市场交易对手的违约而导致的损失的可能性。

youdao

Hendry has lit upon a familiar weapon of mass destruction: credit default swaps (CDS) - in which a counterparty sells what is, in effect, bankruptcy insurance on underlying corporate debt.

亨德利想到了一个我们所熟知的大规模杀伤性武器：信用违约互换(CDS)合约——对手方出售的实际上是企业债务的违约保险。

youdao

Besides market risks, Goldman also assesses credit risks, based on whether a counterparty might default on a loan or fail to honour a derivative contract, and liquidity risk.

除了市场风险，高盛也评估业务相对方拖欠贷款或衍生合同违约所带来的信用风险，以及流动性风险。

youdao

All these steps were aimed at reducing credit spreads on private loans and increasing the supply of private credit, currently constrained by fear of counterparty default, illiquidity and banks' depleted capital.

ECONOMIST: The Fed

These efforts include gaining commitments from private-sector participants to automate and standardize the clearing and settlement process, encouraging improved netting and cash settlement arrangements, and supporting the development of a central counterparty for credit default swaps.

FORBES: Transcript

He also said the Fed is encouraging the development of a central counterparty clearing system for trading in credit default swaps and working on strengthening the resiliency of the short-term secured funding markets that left Bear in the lurch in March.

FORBES: Magazine Article