protection seller

protection seller
USA
credit protection seller, Also known as the protection seller.
The entity (usually a financial institution, fund or insurer) that is obligated to make certain payments under a credit default swap to its counterparty, the credit protection buyer, upon the occurrence of certain events known as credit events. The protection buyer pays a fee to the protection seller, usually a small percentage of the notional amount of the swap, for the right to receive these payments upon the occurrence of a credit event.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Нужно решить контрольную?

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