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nklhuyton59 · 1 year ago

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Convergent Credit Default Swap (CCDS): What it is, How it Works

What Is a Contingent Credit Default Swap (CCDS)?

As of my last update in September 2021, a Contingent Credit Default Swap (CCDS) is a type of credit derivative that provides protection to the buyer against the risk of an issuer defaulting on a specific debt obligation, typically a bond. The key feature that sets CCDS apart from traditional Credit Default Swaps (CDS) is the contingent nature of the contract. In a standard CDS, the protection buyer pays a premium to the protection seller regardless of whether a credit event (such as a default) occurs. However, in a CCDS, the premium payment is contingent upon the occurrence of specific events.

Here's how a Contingent Credit Default Swap generally works:

Parties involved: Similar to a regular CDS, a CCDS involves two parties - the protection buyer and the protection seller.

Contingent events: In a CCDS, the premium payments are triggered by contingent events. These events can vary widely and are specified in the contract. For example, the contingent event could be a decline in the issuer's credit rating, a drop in the issuer's stock price, or other financial metrics reaching a certain threshold.

Premium payment: The protection buyer pays a premium to the protection seller only if the specified contingent event occurs. If the event does not occur, no premium is paid, and the contract may terminate without any payment exchanged.

Credit event: If an actual credit event, such as a default on the referenced debt obligation, occurs, the protection seller compensates the protection buyer as per the terms of the contract. The payout can be in the form of cash or the delivery of the referenced obligation, depending on the agreement.

CCDS contracts allow investors to tailor their credit protection more precisely to their specific needs and concerns. By linking the premium payments to contingent events, investors can have a more customized hedge against the risks associated with a particular issuer or debt obligation.

Please note that the specifics of CCDS contracts, including the contingent events and the terms of the payouts, can vary based on the agreement between the parties involved. For the most accurate and updated information on CCDS, I recommend consulting financial news sources, specialized financial publications, or legal documents related to derivative contracts.

Understanding Credit Default Swaps (CCDSs)

It seems there might be a confusion in the terminology. As of my last update in September 2021, there is no widely recognized financial instrument known as "Credit Default Swaps (CCDSs)." It's possible that the term you're referring to is either a variation of Credit Default Swaps (CDS) or a specific type of financial instrument introduced after my last update.

A Credit Default Swap (CDS) is a financial derivative instrument that allows an investor to "swap" or offset their credit risk with that of another investor. In essence, it's a contract between two parties, where one party pays a regular fee (the premium) to the other party. In return, the party receiving the premium agrees to compensate the first party if a third party (usually a company or government) defaults on its debt obligations.

Here's a basic overview of how a Credit Default Swap works:

Parties involved: There are two main parties involved in a CDS - the protection buyer and the protection seller. The protection buyer pays a premium to the protection seller.

Reference entity and reference obligation: The CDS contract specifies a reference entity, which is the entity whose credit risk the CDS is designed to hedge. There's also a reference obligation, which is the specific financial instrument (like a bond) issued by the reference entity.

Credit event: If a specified credit event, such as a default on the reference obligation, occurs, the protection seller compensates the protection buyer. The exact definition of a credit event is crucial and is specified in the CDS contract.

Settlement: After a credit event, the protection seller either pays the protection buyer the face value of the reference obligation or delivers the referenced obligation itself, depending on the terms of the CDS contract.

If you're specifically looking for information on a different or newer financial instrument, such as a variation of CDS introduced after 2021, I recommend consulting more recent and specialized financial sources, such as financial news websites or official regulatory documents, for the most current and detailed information.

Contingent Credit Default Swap vs. Regular CDS

A Contingent Credit Default Swap (CCDS) and a regular Credit Default Swap (CDS) are both types of financial derivatives used in the world of finance to manage credit risk, but they have distinct differences in terms of their structures and triggering events.

Regular Credit Default Swap (CDS):

A Credit Default Swap (CDS) is a financial contract in which the buyer of the CDS makes regular payments to the seller, and in return, the seller agrees to compensate the buyer if a specified credit event occurs. The most common credit event is a default on a debt obligation, such as a bond.

Parties Involved: The buyer (or protection buyer) and the seller (or protection seller).

Premium Payments: The buyer pays a premium to the seller regularly (typically quarterly or annually) over the term of the contract.

Credit Event: If a predefined credit event occurs, such as a default on the reference debt, the seller compensates the buyer either through cash settlement or by delivering the defaulted debt instrument.

Contingent Credit Default Swap (CCDS):

A Contingent Credit Default Swap (CCDS) is a variation of a CDS where the payment of premiums and the occurrence of credit events are contingent upon specific triggering events other than just a default on the reference debt. These triggering events can be tailored to the needs of the parties involved, making CCDS contracts more customizable.

Triggering Events: Unlike a regular CDS, where the trigger is typically a default, a CCDS might have triggers based on various factors such as credit rating downgrades, specific financial metrics, or other events specified in the contract.

Premium Payments: Premium payments in CCDS are also contingent. The buyer only pays the premium if the specified triggering event occurs.

Flexibility: CCDS contracts offer more flexibility in terms of structuring the agreement according to the parties' specific requirements. For instance, a CCDS might be structured to protect against credit risk only if a company's stock price falls below a certain level.

In summary, a regular CDS provides protection against default events, while a CCDS offers protection against a broader range of triggering events, allowing for more customized hedging strategies. CCDS contracts are often used by investors and corporations to manage credit risk in a more tailored manner, addressing specific concerns beyond traditional defaults. Please note that the specific terms and conditions of these derivatives can vary widely and are negotiated between the parties involved.

Example of How a Contingent Credit Default Swap Works

Sure, let's walk through an example of how a Contingent Credit Default Swap (CCDS) might work. In this hypothetical scenario, consider a company, ABC Corporation, which wants to protect itself against the risk of a credit downgrade. ABC Corporation enters into a CCDS contract with XYZ Bank.

Scenario: Contingent Credit Downgrade

1. Contract Terms:

Reference Entity: ABC Corporation

Triggering Event: A credit rating downgrade of ABC Corporation below a specified level.

Premium Payments: ABC Corporation only pays premiums if its credit rating is downgraded.

2. Initial Setup:

ABC Corporation and XYZ Bank enter into a CCDS contract. ABC Corporation agrees to pay XYZ Bank a premium, say annually, for protection against a credit downgrade.

3. Monitoring Credit Rating:

Credit rating agencies continuously monitor ABC Corporation's financial health. If ABC Corporation's credit rating falls below the agreed-upon level specified in the CCDS contract, the triggering event occurs.

4. Occurrence of Triggering Event:

Let's say ABC Corporation's credit rating is downgraded below the agreed level. This event triggers the CCDS contract.

5. Payment Process:

Upon the triggering event (credit downgrade), ABC Corporation stops its regular premium payments. Now, if a CCDS is structured as "pay-as-you-go," ABC Corporation does not owe any further premiums.

6. Compensation from XYZ Bank:

Since the triggering event occurred, XYZ Bank compensates ABC Corporation according to the terms specified in the contract. The compensation could be in the form of cash or other financial instruments, depending on the agreement.

7. Risk Mitigation:

ABC Corporation receives compensation from XYZ Bank, which helps mitigate the financial impact of the credit downgrade. This compensation can be used to cover increased borrowing costs, potential losses in the market value of existing bonds, or other financial challenges resulting from the credit downgrade.

In this example, the CCDS acts as a risk management tool, allowing ABC Corporation to protect itself against the specific risk of a credit rating downgrade. By customizing the triggering event to a credit rating downgrade and structuring premium payments accordingly, CCDS offers a tailored solution to address the company's unique risk exposure. Please note that the actual terms and conditions of CCDS contracts can vary widely and are negotiated between the parties involved.

Read more: https://computertricks.net/convergent-credit-default-swap-ccds-what-it-is-how-it-works/

#Computer Tricks

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heartcarepa · 2 years ago

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Heart Disease in Canada

Heart disease is the general term for several diseases of blood vessels and the heart. Heart disease is Canada's second-leading cause of death, accounting for more than 51,500 deaths.

Heart Care Consultants is the best heart center philadelphia who provide top cardiologist philadelphia

The heart muscle can be damaged by heart disease or it may not work properly. Plaque, which is composed of cholesterol, calcium, and fat, builds up inside the coronary arteries. Over time, this plaque can become hardened or rupture. The coronary arteries become narrower and blood flow to the heart is reduced. When plaque ruptures, a blood clot may also form. The blood flow to the heart muscle will be blocked in such a situation.

Heart diseases that are commonly known include: ischemic disease (IHD), acute coronary infarction (AMI), angina, cardiac arrhythmias, stroke and heart failure. Symptoms of heart disease include shortness in breath, palpitations and fatigue.

The Canadian Chronic Disease Surveillance System is a network of chronic disease surveillance systems in Canada's provinces and territories, led by the Public Health Agency of Canada. The CCDSS data is used to estimate the number of Canadians with heart disease, and those newly diagnosed. The trends in mortality are also examined.

PHAC has recently published a publication entitled 'Report From the Canadian Chronic Disease Monitoring System: Heart Disease In Canada, 2018' which describes the epidemiological trends, profiles and subsets of IHD, AMI, as well as heart failure.

Who is affected by this?

About 2.4 million Canadians (or one in twelve) aged 20 and older had IHD. This is the most common form of heart disease. About 578,000 (2%) of those individuals had a past history of AMI. A further 669,600 (3.6%) Canadian adults over 40 had heart failure.

Men vs. Women

In any year, it is observed that more men than woman have IHD, AMI, or heart failure. Only those over 85 years old are exempt. The rates of these diseases remain higher for men at this age than they are for women, but the gap between the two sexes is decreasing.

In the same way, men are more likely to die (for any reason) than women with IHD, heart failure or both. Women aged 45-74 with a past history of AMI were 1.3 times as likely to die in any given year from any cause compared to their male counterparts.

Women may have subtler symptoms, which can lead to a delay in seeking medical attention. Women also tend to experience more complications than men (e.g. Major bleeding is more common in women than men.

Check out the section below titled 'Dive Into the Data' to find out estimates based on age and gender.

Young vs. Old

As Canadians age, heart disease affects more people. Around two-thirds of Canadians with IHD, and more than 80% of Canadians with heart failure are over 65.

Even at an earlier age, heart disease can occur. In 2012-2013, 38,000 Canadians aged between 20 and 39 were diagnosed with IHD. Over 35,000 Canadians aged between 40 and 54 were diagnosed with heart failure.

Check out the section 'Dive Into the Data' below to find out estimates by gender and age.

Increase or decrease?

Over the past 13 years, from 2000-2001 until 2012-2013, the proportion of Canadians with IHD or heart failure has remained relatively constant while mortality rates have declined by 24% and 26 % respectively.

Over the same time period, the proportion of people with an AMI history increased by 67% while mortality rates from all causes decreased by about 35%. These trends indicate a better chance of survival due to improvements in the management of diseases and treatment.

Check out the section 'Dive into the Data' below to see trends throughout the years.

#heart care consultants in philadelphia #cardiologist philadelphia #top cardiologist philadelphia #cardiology center philadelphia #philadelphia heart surgery #heart center philadelphia #heart care consultant usa

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taekooktimeline · 3 years ago

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April 5, 2022 -

someone sees Taekook and Hobi at dinner in Vegas.

Video may be viewed at the below links -

https://twitter.com/lyan333_kv/status/1511849074764689411?s=21&t=YMFNPRFL1wPU4UoJhX51mA

https://twitter.com/_your_coco_/status/1511854031807086593?s=21&t=YMFNPRFL1wPU4UoJhX51mA

OP talking about her experience can be viewed at either of these links:

https://twitter.com/vkookbamtan123/status/1511880417103671297?s=21&t=YMFNPRFL1wPU4UoJhX51mA

https://twitter.com/mybabybear_koo/status/1511892528999641091?s=21&t=YMFNPRFL1wPU4UoJhX51mA

The Bellagio confirmed Taekook and Hobi visited on their official IG☺️

https://www.instagram.com/p/CcDss-EpMkh/?utm_medium=copy_link

Bellagio video -

Note at the end of the above video that Tae and Jungkook are doing their adorable head boop, tilting their heads towards each other (zoomed in to see better) -

For fun - outfit info:

https://twitter.com/bangtan_style07/status/1512382791891120128?s=21&t=QlsXLIvjDhsGcaOy3cBf4w

https://twitter.com/thetaeprint/status/1512286680677445637?s=21&t=QlsXLIvjDhsGcaOy3cBf4w

Tae and Jk both posts a series of photos, some from the dinner and at the fountains. In the first photo, we can see Jungkook is seated across from Tae (based on his outfit). It can be presumed he took the photos of Tae, and likewise for the one photo of Jk. I also find it super cute they’re both similarly posing with their wine glasses!

Tae: https://www.instagram.com/p/CcEVM4tvR0j/?igshid=YmMyMTA2M2Y=

Jk: https://www.instagram.com/p/CcFOFc3rXkX/?igshid=YmMyMTA2M2Y=

Hobi posts on his IG a video of his Vegas outing with Tae and Jungkook. Taekook dance to the fountains playing “dynamite” and close the space between them.

Translation -

https://twitter.com/haruharu_w_bts/status/1512339256018018308?s=21&t=SwkAMSK2dm3eWbYSRcU17w

https://twitter.com/thatcoolnunagcf/status/1512346606875848704?s=21&t=SwkAMSK2dm3eWbYSRcU17w

Hobi IG - https://www.instagram.com/tv/CcFRmFsg90S/?igshid=YmMyMTA2M2Y=

#taekooktimeline #taekook #2022

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