BIS Statistics Explorer: Table D10.2

Credit default swaps, by rating category

Notional amounts outstanding, in billions of US dollars

« ‹ H1 2018 › »	Total	Reporting dealers	Other financial institutions							Non-financial institutions
« ‹ H1 2018 › »			Total	CCPs	Banks and securities firms	Insurance and financial guaranty firms	SPVs, SPCc and SPEs	Hedge funds	Other
			Total	CCPs	Banks and securities firms	Insurance and financial guaranty firms	SPVs, SPCc and SPEs	Hedge funds	Other
Total CDS contracts
Investment grade	5,321	1,276	3,935	3,093	205	60	43	215	319	110
Bought (gross basis)	3,374	1,271	2,037	1,549	131	35	31	107	183	66
Sold (gross basis)	3,223	1,280	1,898	1,543	74	25	11	108	136	44
AAA/AA	696	206	469	260	56	11	12	44	86	21
Bought (gross basis)	481	206	257	128	37	8	10	24	50	17
Sold (gross basis)	421	205	212	132	19	3	2	20	36	4
A/BBB	4,625	1,070	3,466	2,833	149	49	30	172	233	89
Bought (gross basis)	2,893	1,065	1,779	1,422	94	26	22	83	133	49
Sold (gross basis)	2,802	1,075	1,686	1,411	55	22	9	89	100	41
Below investment grade	1,857	439	1,336	948	63	25	6	113	182	82
Bought (gross basis)	1,162	446	678	471	36	14	4	56	97	38
Sold (gross basis)	1,135	432	658	478	27	10	2	56	85	44
Non-rated	1,077	259	778	472	102	25	7	53	119	39
Bought (gross basis)	695	265	407	239	51	13	5	29	69	23
Sold (gross basis)	641	253	371	234	51	11	2	23	50	17
Single-name instruments
Investment grade	2,961	990	1,939	1,495	133	30	27	97	157	33
Bought (gross basis)	1,991	985	985	741	93	19	22	32	79	22
Sold (gross basis)	1,959	994	954	754	40	11	5	65	78	11
AAA/AA	556	170	378	248	39	7	6	18	59	8
Bought (gross basis)	367	169	192	123	28	5	4	5	27	5
Sold (gross basis)	359	171	186	125	11	2	2	14	33	3
A/BBB	2,405	820	1,561	1,247	94	22	21	79	98	25
Bought (gross basis)	1,625	816	792	618	65	13	18	27	52	17
Sold (gross basis)	1,600	823	769	629	29	9	3	52	46	8
Below investment grade	865	306	553	403	36	6	3	59	44	7
Bought (gross basis)	586	306	276	197	22	4	3	24	26	4
Sold (gross basis)	585	305	277	206	14	3	0	35	18	3
Non-rated	254	106	141	59	27	6	5	12	31	8
Bought (gross basis)	194	111	77	30	18	5	3	3	17	5
Sold (gross basis)	166	100	64	29	9	1	2	9	14	2
Multi-name instruments
Investment grade	2,360	286	1,996	1,598	72	30	15	118	162	78
Bought (gross basis)	1,382	286	1,052	809	38	16	9	75	105	44
Sold (gross basis)	1,263	286	944	789	34	14	6	43	58	34
AAA/AA	140	36	91	12	17	4	6	26	27	13
Bought (gross basis)	114	37	65	4	9	3	5	19	23	12
Sold (gross basis)	61	34	26	7	8	1	0	6	3	1
A/BBB	2,220	250	1,905	1,586	55	26	10	93	135	65
Bought (gross basis)	1,268	249	987	804	29	13	4	56	81	32
Sold (gross basis)	1,202	252	918	782	26	13	6	37	54	32
Below investment grade	992	133	784	545	27	18	3	54	137	75
Bought (gross basis)	575	139	402	274	14	11	1	33	71	34
Sold (gross basis)	550	127	381	271	13	8	2	21	67	41
Non-rated	823	154	637	413	75	19	2	41	87	32
Bought (gross basis)	501	154	330	209	33	8	2	26	51	18
Sold (gross basis)	475	154	307	205	42	11	0	15	36	14