【摘要】 信用衍生产品实质上是对传统金融衍生工具进行再造,赋予其管理信用风险的新功能。信用衍生产品的出现,使信用风险管理方式从消极和被动的回避风险方式,转变为积极和主动的组合风险管理。看跌期权、违约期权、互换和信用联系票据等几种信用衍生产品在信用风险管理中的应用有着重要的现实意义。更多还原

【Abstract】 The existence of credit derivatives indicates a major shift of credit risk management from passively avoiding risk to actively managing risk. This paper introduces credit derivatives including put option, default option, swap and credit-linked notes (CLN), and their applications in credit risk management.更多还原