BIS Statistics Explorer: Table D10.2

Credit default swaps, by rating category

Notional amounts outstanding, in billions of US dollars

« ‹ H1 2019 › »	Total	Reporting dealers	Other financial institutions							Non-financial institutions
« ‹ H1 2019 › »			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	4,529	989	3,461	2,582	231	59	33	202	354	79
Bought (gross basis)	2,846	988	1,804	1,280	136	36	25	112	215	54
Sold (gross basis)	2,672	990	1,656	1,302	95	24	8	90	138	26
AAA/AA	718	168	515	299	54	13	8	55	86	35
Bought (gross basis)	478	169	283	138	36	10	4	35	60	26
Sold (gross basis)	408	167	232	160	19	3	4	20	26	9
A/BBB	3,811	821	2,946	2,284	176	46	25	147	268	44
Bought (gross basis)	2,368	819	1,522	1,142	100	26	21	77	156	27
Sold (gross basis)	2,264	823	1,425	1,142	76	20	4	70	112	17
Below investment grade	1,610	327	1,250	816	48	17	6	82	281	33
Bought (gross basis)	980	331	633	405	28	11	4	40	145	17
Sold (gross basis)	956	323	617	411	20	6	2	41	136	16
Non-rated	1,420	230	1,127	805	71	18	7	84	142	62
Bought (gross basis)	871	232	605	402	44	10	6	52	91	33
Sold (gross basis)	779	229	522	403	27	8	1	33	51	29
Single-name instruments
Investment grade	2,586	780	1,771	1,395	121	30	21	79	124	36
Bought (gross basis)	1,697	787	887	688	73	19	16	25	67	22
Sold (gross basis)	1,670	773	884	707	49	11	6	54	58	13
AAA/AA	400	125	266	195	26	8	7	15	15	8
Bought (gross basis)	263	126	132	93	19	5	4	4	6	5
Sold (gross basis)	262	124	135	102	7	3	3	11	9	3
A/BBB	2,186	655	1,504	1,200	96	21	14	65	109	27
Bought (gross basis)	1,433	661	756	595	54	14	12	21	60	17
Sold (gross basis)	1,407	648	749	605	42	8	2	43	49	10
Below investment grade	680	214	459	332	23	3	3	42	55	7
Bought (gross basis)	447	218	224	156	15	2	3	17	32	4
Sold (gross basis)	447	210	234	176	9	1	0	25	23	3
Non-rated	213	73	133	55	24	7	3	7	37	7
Bought (gross basis)	155	77	74	27	16	6	3	2	20	5
Sold (gross basis)	131	70	59	28	8	1	0	5	17	2
Multi-name instruments
Investment grade	1,943	210	1,690	1,188	109	30	11	123	229	44
Bought (gross basis)	1,150	201	917	592	63	17	9	87	149	31
Sold (gross basis)	1,003	218	773	596	46	13	2	36	80	12
AAA/AA	318	43	248	104	29	5	1	40	71	27
Bought (gross basis)	215	43	151	45	17	4	0	31	53	21
Sold (gross basis)	146	43	97	58	12	0	0	9	17	6
A/BBB	1,625	166	1,442	1,084	81	25	11	83	159	17
Bought (gross basis)	935	158	766	547	46	13	9	56	96	10
Sold (gross basis)	857	175	676	537	34	13	2	27	63	6
Below investment grade	930	112	791	484	24	15	3	40	227	26
Bought (gross basis)	534	112	408	248	13	9	1	24	113	13
Sold (gross basis)	509	113	383	235	11	5	2	16	113	13
Non-rated	1,206	157	994	750	47	10	4	77	105	55
Bought (gross basis)	715	155	531	375	28	3	3	49	72	29
Sold (gross basis)	648	159	463	375	19	7	1	28	34	26