credit default swap

cred·it de·fault swap

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Definitions of credit default swap words

noun credit default swap a contract in which the parties exchange the exposure to loss should a creditor fail to make a payment when it comes due back 3
noun credit default swap (finance) A credit derivative contract between two counterparties, whereby the buyer (seller of risk) makes periodic payments to the seller (buyer of risk) in exchange for the right to a payoff if there is a default or other credit event in respect of a third party called reference entity. 0

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A common word. It’s meaning is known to most children of preschool age. About 98% of English native speakers know the meaning and use the word.

Most Europeans know this English word. The frequency of it’s usage is somewhere between "mom" and "screwdriver".

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