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credit default swap

noun

finance a contract in which the parties exchange the exposure to loss should a creditor fail to make a payment when it comes due back Abbreviation: CDS
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012