BIS Statistics Explorer: Table D10.2

Credit default swaps, by rating category

Notional amounts outstanding, in billions of US dollars

« ‹ H2 2018 › »	Total	Reporting dealers	Other financial institutions							Non-financial institutions
« ‹ H2 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	5,136	1,111	3,892	3,039	193	68	37	210	346	133
Bought (gross basis)	3,196	1,116	2,003	1,500	115	41	28	117	201	78
Sold (gross basis)	3,051	1,107	1,889	1,539	78	27	8	92	145	55
AAA/AA	755	192	537	291	60	14	9	49	114	26
Bought (gross basis)	505	192	294	138	36	11	8	31	70	20
Sold (gross basis)	441	191	244	153	24	4	1	18	44	6
A/BBB	4,382	920	3,354	2,748	133	53	28	161	232	107
Bought (gross basis)	2,691	924	1,709	1,362	79	31	21	86	131	58
Sold (gross basis)	2,610	916	1,646	1,386	54	23	7	75	102	49
Below investment grade	1,377	363	935	644	53	14	6	92	126	79
Bought (gross basis)	875	364	476	311	30	9	4	46	77	35
Sold (gross basis)	864	362	459	333	23	5	2	47	49	43
Non-rated	1,545	312	1,178	757	121	31	6	81	182	55
Bought (gross basis)	974	322	620	368	69	18	5	43	116	32
Sold (gross basis)	883	302	558	389	52	13	1	38	66	23
Single-name instruments
Investment grade	2,848	888	1,926	1,481	128	29	22	87	178	34
Bought (gross basis)	1,884	892	970	726	82	20	20	30	92	22
Sold (gross basis)	1,852	883	956	756	46	9	2	57	87	12
AAA/AA	552	150	394	251	36	8	5	17	77	8
Bought (gross basis)	354	150	198	120	24	6	4	6	39	5
Sold (gross basis)	349	151	196	131	12	2	1	11	38	2
A/BBB	2,296	737	1,532	1,230	92	21	17	70	101	26
Bought (gross basis)	1,531	742	772	606	58	14	16	25	52	17
Sold (gross basis)	1,503	733	760	624	34	7	1	46	49	10
Below investment grade	814	278	529	383	34	7	3	54	49	7
Bought (gross basis)	545	282	258	180	20	4	3	21	31	4
Sold (gross basis)	546	273	271	204	14	3	0	32	18	3
Non-rated	230	89	134	55	33	6	3	9	28	8
Bought (gross basis)	177	96	76	27	21	5	3	3	17	6
Sold (gross basis)	142	81	58	28	12	1	0	6	11	3
Multi-name instruments
Investment grade	2,288	224	1,965	1,557	65	39	14	122	168	99
Bought (gross basis)	1,312	224	1,033	774	33	21	8	87	109	56
Sold (gross basis)	1,200	224	933	783	32	17	6	35	59	43
AAA/AA	202	41	143	40	24	6	4	32	37	18
Bought (gross basis)	152	42	96	19	12	5	4	26	31	14
Sold (gross basis)	92	41	47	21	12	1	0	7	6	4
A/BBB	2,086	183	1,822	1,517	41	32	10	90	131	81
Bought (gross basis)	1,161	182	937	755	21	17	4	61	78	42
Sold (gross basis)	1,108	183	885	762	20	16	6	29	53	40
Below investment grade	563	85	406	261	19	7	2	39	78	71
Bought (gross basis)	330	81	218	132	10	5	1	24	46	31
Sold (gross basis)	317	89	188	129	9	3	1	15	31	41
Non-rated	1,315	224	1,045	702	88	25	3	72	155	46
Bought (gross basis)	797	226	544	341	48	13	2	41	99	26
Sold (gross basis)	741	221	500	361	40	12	1	32	55	20