{"id":165597,"date":"2022-05-06T15:46:14","date_gmt":"2022-05-06T15:46:14","guid":{"rendered":"https:\/\/theotcspace.com\/knowledge_item\/first-to-default-basket-swap\/"},"modified":"2022-05-06T15:46:18","modified_gmt":"2022-05-06T15:46:18","slug":"first-to-default-basket-swap","status":"publish","type":"knowledge_item","link":"https:\/\/theotcspace.com\/knowledge_item\/first-to-default-basket-swap\/","title":{"rendered":"First-to-Default Basket Swap"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"<p>A basket credit default swap on which a credit event occurs the first time any of the reference entities in the basket defaults. At that point the buyer stops paying the swap&#8217;s premium and receives from the seller the difference of the principal amount of the defaulted entity and the recovered value. If the swap&#8217;s counterparty defaults, premium payments will stop and both the buyer and the seller walk away from the contract.<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false},"knowledge_category":[4251],"acf":[],"_links":{"self":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/knowledge_item\/165597"}],"collection":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/knowledge_item"}],"about":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/types\/knowledge_item"}],"wp:attachment":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/media?parent=165597"}],"wp:term":[{"taxonomy":"knowledge_category","embeddable":true,"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/knowledge_category?post=165597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}