CDDC stands for Credit Derivatives Determinations Committee, and it’s a body that decides whether payouts should be made on insurance-like products called Credit Default Swaps, or CDS. Essentially, CDSs are a form of protection or wager on a borrower’s ability to pay back their debts. Just imagine lending someone money, and buying an insurance in case they can’t pay you back. That’s a CDS. Now, the question of whether and when the insurance should be paid is decided by the CDDC. The interesting part here is that the CDDC was recently asked to make a decision involving billions of dollars of securities tied to the bank Credit Suisse, which had been bailed out.

TOPICS AND TIMESTAMPS:
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